Tidal Investments LLC Has $747,000 Holdings in BlackLine, Inc. (NASDAQ:BL)

Tidal Investments LLC lifted its position in BlackLine, Inc. (NASDAQ:BL) by 1.6% in the third quarter, HoldingsChannel.com reports. The firm owned 13,539 shares of the technology company’s stock after acquiring an additional 219 shares during the period. Tidal Investments LLC’s holdings in BlackLine were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after purchasing an additional 266 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of BlackLine by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock worth $709,000 after purchasing an additional 325 shares during the last quarter. Covestor Ltd increased its position in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after purchasing an additional 337 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in BlackLine by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,800 shares of the technology company’s stock valued at $1,250,000 after purchasing an additional 600 shares during the last quarter. Finally, Quarry LP acquired a new position in BlackLine in the second quarter valued at about $32,000. 95.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BL shares. Piper Sandler reiterated a “neutral” rating and issued a $60.00 target price on shares of BlackLine in a research note on Wednesday, November 20th. Morgan Stanley lifted their price objective on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their target price on BlackLine from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. JMP Securities lifted their price target on BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, Truist Financial increased their price objective on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and a consensus target price of $66.00.

Insider Buying and Selling at BlackLine

In other news, CFO Mark Partin sold 5,648 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the transaction, the chief financial officer now directly owns 226,844 shares in the company, valued at approximately $12,022,732. The trade was a 2.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the sale, the insider now owns 113,865 shares in the company, valued at $6,262,575. This represents a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,516 shares of company stock worth $9,058,748. Insiders own 9.93% of the company’s stock.

BlackLine Trading Up 1.5 %

BL opened at $63.43 on Friday. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 64.72, a price-to-earnings-growth ratio of 15.18 and a beta of 0.90. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a 50 day simple moving average of $60.34 and a 200 day simple moving average of $53.07.

BlackLine Company 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.