Quadrant Capital Group LLC Purchases 414 Shares of BlackLine, Inc. (NASDAQ:BL)

Quadrant Capital Group LLC boosted its position in BlackLine, Inc. (NASDAQ:BL) by 243.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 584 shares of the technology company’s stock after purchasing an additional 414 shares during the quarter. Quadrant Capital Group LLC’s holdings in BlackLine were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC boosted its position in shares of BlackLine by 20.2% in 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 period. JPMorgan Chase & Co. boosted its holdings in BlackLine by 35.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after purchasing an additional 435,271 shares during the period. Geode Capital Management LLC grew its position in shares of BlackLine by 0.3% during the 3rd 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 in the last quarter. American Century Companies Inc. grew its position in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock worth $54,481,000 after purchasing an additional 889,570 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of BlackLine by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 501,699 shares of the technology company’s stock worth $30,483,000 after purchasing an additional 6,477 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. DA Davidson began coverage on BlackLine in a research report on Tuesday, April 1st. They set a “buy” rating and a $58.00 target price for the company. Truist Financial decreased their price target on BlackLine from $55.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Piper Sandler cut their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Wednesday, February 12th. Finally, Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and raised their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, BlackLine currently has an average rating of “Hold” and an average target price of $64.27.

BlackLine Price Performance

BL stock opened at $45.59 on Friday. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25. 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 stock has a market cap of $2.88 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 10.80 and a beta of 0.97. The company has a 50 day simple moving average of $50.10 and a 200 day simple moving average of $56.35.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (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%. Research analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine 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 transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.93% of the stock is owned by corporate insiders.

BlackLine Company 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.