Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,734 Shares of BlackLine, Inc. (NASDAQ:BL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BlackLine, Inc. (NASDAQ:BL) by 14.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,398 shares of the technology company’s stock after purchasing an additional 1,734 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BlackLine were worth $814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC grew its position in shares of BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC grew its position in shares of BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the period. Asset Management One Co. Ltd. grew its position in shares of BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV boosted its holdings in BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares during the period. 95.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.93% of the stock is currently owned by insiders.

BlackLine Stock Performance

NASDAQ BL opened at $50.29 on Friday. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.09. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The company has a market capitalization of $3.16 billion, a P/E ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03. The company has a fifty day moving average of $54.93 and a 200-day moving average of $56.69.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, equities research analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BL has been the subject of a number of recent research reports. BMO Capital Markets reduced their price objective on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Truist Financial reduced their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and raised their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Piper Sandler cut their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.40.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.