Assenagon Asset Management S.A. Has $12.40 Million Stake in BlackLine, Inc. (NASDAQ:BL)

Assenagon Asset Management S.A. lifted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 3,027.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 224,944 shares of the technology company’s stock after buying an additional 217,751 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BlackLine were worth $12,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BL. Vanguard Group Inc. lifted its holdings in shares of BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock worth $476,662,000 after purchasing an additional 642,772 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of BlackLine in the 2nd quarter worth $15,128,000. Dimensional Fund Advisors LP lifted its holdings in shares of BlackLine by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after purchasing an additional 229,151 shares in the last quarter. Clearline Capital LP bought a new position in shares of BlackLine in the 2nd quarter worth $7,673,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of BlackLine by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 404,400 shares of the technology company’s stock worth $22,299,000 after purchasing an additional 116,900 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the sale, the insider now owns 113,865 shares in the company, valued at $6,838,731.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the sale, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara Whye sold 5,378 shares of BlackLine stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the sale, the director now directly owns 6,777 shares in the company, valued at $352,471.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,873 shares of company stock valued at $8,340,243. 9.93% of the stock is owned by company insiders.

BlackLine Trading Down 1.1 %

NASDAQ BL opened at $56.57 on Monday. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The stock has a market cap of $3.50 billion, a P/E ratio of 245.96, a P/E/G ratio of 13.57 and a beta of 0.90. The stock’s fifty day moving average price is $52.57 and its 200-day moving average price is $51.81. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $160.51 million for the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.69) earnings per share. As a group, equities analysts forecast that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BL has been the topic of several recent analyst reports. Piper Sandler dropped their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note 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 note on Monday, July 15th. Truist Financial dropped their price objective on BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. BTIG Research dropped their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $70.00 in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, BlackLine presently has an average rating of “Hold” and an average target price of $60.20.

About BlackLine

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.