Teachers Retirement System of The State of Kentucky Purchases 5,563 Shares of BlackLine, Inc. (NASDAQ:BL)

Teachers Retirement System of The State of Kentucky raised its position in BlackLine, Inc. (NASDAQ:BL) by 39.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,600 shares of the technology company’s stock after buying an additional 5,563 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in BlackLine were worth $949,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of BlackLine by 13.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after buying an additional 266 shares during the last quarter. Arizona State Retirement System boosted its position in BlackLine by 2.3% during 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. Covestor Ltd grew its stake in BlackLine by 29.4% in 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. Whittier Trust Co. increased its position in shares of BlackLine by 9.7% during the 1st quarter. Whittier Trust Co. now owns 4,699 shares of the technology company’s stock worth $303,000 after purchasing an additional 414 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of BlackLine during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackLine Stock Up 1.2 %

BlackLine stock opened at $54.51 on Friday. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The stock has a market cap of $3.37 billion, a P/E ratio of 237.00, a P/E/G ratio of 12.80 and a beta of 0.90. The company’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $52.64. 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 (NASDAQ:BL) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share 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 analyst estimates of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) earnings per share. As a group, analysts expect that BlackLine, Inc. will post 0.94 EPS for the current year.

Insiders Place Their Bets

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 115,424 shares of the company’s stock, valued at $5,771,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mark Partin sold 5,648 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now directly owns 226,844 shares of the company’s stock, valued at approximately $12,022,732. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 115,424 shares in the company, valued at $5,771,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,494 shares of company stock worth $6,697,376 in the last 90 days. Company insiders own 9.93% of the company’s stock.

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.