45,030 Shares in BlackLine, Inc. (NASDAQ:BL) Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd bought a new stake in shares of BlackLine, Inc. (NASDAQ:BL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 45,030 shares of the technology company’s stock, valued at approximately $2,736,000. Hel Ved Capital Management Ltd owned 0.07% of BlackLine at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BL. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine during the 4th quarter worth about $31,000. Global Retirement Partners LLC grew its holdings in BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after purchasing an additional 449 shares during the period. GAMMA Investing LLC increased its stake in BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares in the last quarter. Headlands Technologies LLC acquired a new stake in BlackLine in the fourth quarter worth $50,000. Finally, Huntington National Bank grew its holdings in shares of BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company’s stock valued at $59,000 after buying an additional 829 shares during the period. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Performance

NASDAQ:BL opened at $44.10 on Friday. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The stock has a 50 day simple moving average of $52.79 and a 200 day simple moving average of $56.69. BlackLine, Inc. has a 1-year low of $43.02 and a 1-year high of $69.09. The stock has a market cap of $2.78 billion, a P/E ratio of 30.41, a PEG ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Research analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BL shares. StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. BMO Capital Markets lowered their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, DA Davidson initiated coverage on BlackLine in a report on Tuesday. They issued a “buy” rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.64.

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.