Cibc World Markets Corp Makes New Investment in BlackLine, Inc. (NASDAQ:BL)

Cibc World Markets Corp purchased a new stake in shares of BlackLine, Inc. (NASDAQ:BL) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,401 shares of the technology company’s stock, valued at approximately $328,000.

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

BlackLine Price Performance

NASDAQ:BL opened at $50.29 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm’s 50-day moving average price is $54.80 and its 200-day moving average price is $56.82. The company has a market capitalization of $3.16 billion, a PE ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.09.

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

Insider Activity at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BL. BMO Capital Markets lowered their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Truist Financial dropped their price target on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Finally, StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently 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.