Pier Capital LLC Purchases 4,558 Shares of BlackLine, Inc. (NASDAQ:BL)

Pier Capital LLC increased its holdings in BlackLine, Inc. (NASDAQ:BL) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 156,284 shares of the technology company’s stock after buying an additional 4,558 shares during the period. BlackLine accounts for approximately 1.4% of Pier Capital LLC’s portfolio, making the stock its 19th largest position. Pier Capital LLC’s holdings in BlackLine were worth $9,496,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after buying an additional 449 shares during the period. GAMMA Investing LLC increased its position in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV lifted its holdings in shares of BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after acquiring an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Price Performance

BL opened at $50.29 on Tuesday. 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 business’s fifty day simple moving average is $54.80 and its 200-day simple moving average is $56.82. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09.

BlackLine (NASDAQ:BL) last issued its 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%. On average, equities research analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

BL has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. BMO Capital Markets cut 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 decreased their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and upped their price objective for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Finally, StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.40.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 9.93% of the stock is currently owned by corporate insiders.

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.