3,000 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by nVerses Capital LLC

nVerses Capital LLC acquired a new stake in shares of BlackLine, Inc. (NASDAQ:BL) in the second quarter, Holdings Channel reports. The firm acquired 3,000 shares of the technology company’s stock, valued at approximately $145,000.

Several other hedge funds have also added to or reduced their stakes in BL. CWM LLC increased its position in shares of BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after acquiring an additional 220 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of BlackLine in the 1st quarter worth $33,000. EntryPoint Capital LLC bought a new stake in shares of BlackLine in the 1st quarter worth $36,000. 1620 Investment Advisors Inc. purchased a new position in shares of BlackLine in the second quarter worth $64,000. Finally, Covestor Ltd lifted its holdings in shares of BlackLine by 29.4% during the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after purchasing an additional 340 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 115,424 shares in the company, valued at $5,771,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 115,424 shares of the company’s stock, valued at $5,771,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the completion of the sale, the executive now owns 97,582 shares in the company, valued at $5,044,989.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,765 shares of company stock valued at $851,418. Company insiders own 9.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reduced their price objective on BlackLine from $60.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Robert W. Baird decreased their price objective on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Monday, July 15th. BTIG Research cut their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, William Blair raised BlackLine to a “hold” rating in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.78.

BlackLine Stock Performance

Shares of BL opened at $49.55 on Tuesday. The business has a 50-day simple moving average of $48.64 and a two-hundred day simple moving average of $54.39. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 215.43, a PEG ratio of 12.37 and a beta of 0.86.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.69) EPS. On average, analysts expect that BlackLine, Inc. will post 0.94 EPS for the current year.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.