BlackLine, Inc. (NASDAQ:BL) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 17.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,351 shares of the technology company’s stock after buying an additional 2,520 shares during the period. American Century Companies Inc.’s holdings in BlackLine were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BL. Pier Capital LLC raised its position in shares of BlackLine by 9.0% during the 2nd quarter. Pier Capital LLC now owns 149,817 shares of the technology company’s stock worth $7,259,000 after acquiring an additional 12,396 shares in the last quarter. ClariVest Asset Management LLC increased its stake in BlackLine by 318.2% in the second quarter. ClariVest Asset Management LLC now owns 23,552 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 17,920 shares during the last quarter. Arizona State Retirement System increased its stake in BlackLine by 2.3% in the second quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock valued at $709,000 after purchasing an additional 325 shares during the last quarter. Rhumbline Advisers raised its holdings in BlackLine by 2.5% during the second quarter. Rhumbline Advisers now owns 156,432 shares of the technology company’s stock worth $7,579,000 after purchasing an additional 3,857 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of BlackLine in the 2nd quarter valued at $1,212,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. BTIG Research reduced their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Piper Sandler lowered their price target on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial dropped their price objective on BlackLine from $60.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, BlackLine has a consensus rating of “Hold” and an average price target of $59.90.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,387 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the sale, the executive now directly owns 97,582 shares in the company, valued at approximately $5,044,989.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total value of $299,344.00. Following the transaction, the chief financial officer now owns 226,844 shares of the company’s stock, valued at approximately $12,022,732. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the completion of the transaction, the executive now directly owns 97,582 shares in the company, valued at $5,044,989.40. The disclosure for this sale can be found here. Insiders have sold a total of 117,721 shares of company stock worth $6,379,052 in the last ninety days. 9.93% of the stock is owned by insiders.

BlackLine Price Performance

BL opened at $54.13 on Wednesday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 235.35, a PEG ratio of 12.80 and a beta of 0.89. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The company has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $52.85.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $160.51 million during 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 business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.69) EPS. Equities research analysts expect that BlackLine, Inc. will post 0.94 EPS for the current fiscal year.

BlackLine 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.