Segall Bryant & Hamill LLC Invests $6.26 Million in BlackLine, Inc. (NASDAQ:BL)

Segall Bryant & Hamill LLC bought a new stake in shares of BlackLine, Inc. (NASDAQ:BL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 103,038 shares of the technology company’s stock, valued at approximately $6,261,000.

Several other institutional investors have also bought and sold shares of BL. FMR LLC increased its stake in BlackLine by 1.3% in the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after buying an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after acquiring an additional 354,784 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock worth $91,896,000 after acquiring an additional 435,271 shares during the period. Geode Capital Management LLC boosted its position in BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock worth $70,704,000 after purchasing an additional 3,498 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in BlackLine by 12,538.0% in the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock valued at $54,481,000 after purchasing an additional 889,570 shares during the period. Institutional investors own 95.13% of the company’s stock.

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the sale, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BL. BMO Capital Markets lowered their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Citigroup dropped their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler decreased their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. StockNews.com downgraded BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and raised their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, BlackLine currently has an average rating of “Hold” and an average target price of $66.40.

BlackLine Price Performance

BlackLine stock opened at $50.52 on Thursday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 34.84, a PEG ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The business has a fifty day moving average price of $54.49 and a 200-day moving average price of $56.79.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, equities research analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current year.

BlackLine 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.