WINTON GROUP Ltd Makes New Investment in BlackLine, Inc. (NASDAQ:BL)

WINTON GROUP Ltd purchased a new stake in BlackLine, Inc. (NASDAQ:BL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 101,439 shares of the technology company’s stock, valued at approximately $6,163,000. WINTON GROUP Ltd owned approximately 0.16% of BlackLine at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BL. Pier Capital LLC raised its stake in BlackLine by 3.0% during the fourth quarter. Pier Capital LLC now owns 156,284 shares of the technology company’s stock worth $9,496,000 after purchasing an additional 4,558 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of BlackLine during the 4th quarter worth approximately $6,261,000. Advantage Alpha Capital Partners LP raised its position in shares of BlackLine by 51.7% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 79,440 shares of the technology company’s stock valued at $4,827,000 after buying an additional 27,081 shares during the period. LPL Financial LLC raised its position in shares of BlackLine by 88.5% during the 4th quarter. LPL Financial LLC now owns 17,248 shares of the technology company’s stock valued at $1,048,000 after buying an additional 8,100 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in BlackLine in the fourth quarter valued at approximately $650,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BL. BMO Capital Markets reduced their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Citigroup reduced their price objective on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial lowered their target price on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $66.40.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.93% of the stock is owned by insiders.

BlackLine Stock Performance

NASDAQ:BL opened at $50.52 on Thursday. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09. The company has a fifty day simple moving average of $54.49 and a two-hundred day simple moving average of $56.79. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last released 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 analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

About BlackLine

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.