Philadelphia Trust Co. acquired a new stake in shares of BlackLine, Inc. (NASDAQ:BL) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,595 shares of the technology company’s stock, valued at approximately $346,000.

Other hedge funds also recently modified their holdings of the company. Clearlake Capital Group L.P. acquired a new position in shares of BlackLine in the 4th quarter valued at $55,723,000. FDx Advisors Inc. increased its stake in shares of BlackLine by 23.7% during the fourth quarter. FDx Advisors Inc. now owns 9,412 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 1,806 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in BlackLine by 0.9% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 18,674 shares of the technology company’s stock worth $2,491,000 after buying an additional 160 shares in the last quarter. Sei Investments Co. raised its stake in BlackLine by 10.8% in the 4th quarter. Sei Investments Co. now owns 106,122 shares of the technology company’s stock valued at $14,155,000 after purchasing an additional 10,344 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in shares of BlackLine by 0.6% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 83,170 shares of the technology company’s stock valued at $11,093,000 after buying an additional 490 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

NASDAQ:BL opened at $123.64 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.70 and a quick ratio of 3.70. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -179.19 and a beta of 0.95. The firm’s fifty day moving average price is $133.41 and its 200 day moving average price is $109.51. BlackLine, Inc. has a 1-year low of $38.32 and a 1-year high of $154.61.

BlackLine (NASDAQ:BL) last released its earnings results on Wednesday, February 10th. The technology company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.37. BlackLine had a negative net margin of 11.58% and a negative return on equity of 0.29%. As a group, analysts expect that BlackLine, Inc. will post -0.19 earnings per share for the current fiscal year.

In related news, Director Graham Smith sold 8,000 shares of BlackLine stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director now directly owns 16,859 shares in the company, valued at $2,367,509.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.44% of the stock is owned by company insiders.

BL has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of BlackLine from $138.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, February 12th. Robert W. Baird boosted their price target on shares of BlackLine from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 23rd. Zacks Investment Research cut shares of BlackLine from a “hold” rating to a “sell” rating in a report on Thursday, February 18th. JMP Securities upped their price objective on BlackLine from $115.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 2nd. Finally, BTIG Research lifted their target price on BlackLine from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $140.11.

BlackLine Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its reconciliation management solutions include Account Reconciliations that provides a centralized workspace from which users can collaborate to complete account reconciliations; Transaction Matching that analyzes and reconciles high volumes of individual transactions; Consolidation Integrity Manager, which manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and Daily Reconciliations, which narrows the scope of a reconciliation to a single day's transactions or balance detail.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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