Handelsbanken Fonder AB Acquires 84,800 Shares of BlackLine, Inc. (NASDAQ:BL)

Handelsbanken Fonder AB grew its holdings in BlackLine, Inc. (NASDAQ:BL) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,200 shares of the technology company’s stock after purchasing an additional 84,800 shares during the period. Handelsbanken Fonder AB owned approximately 0.78% of BlackLine worth $29,724,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BL. Global Retirement Partners LLC increased its position in shares of 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 buying an additional 449 shares during the period. GAMMA Investing LLC increased its holdings in BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after acquiring an additional 185 shares during the period. Covestor Ltd grew its position in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 337 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after buying an additional 209 shares during the period. Finally, KBC Group NV grew its position in BlackLine by 44.0% during the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BL has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on shares of BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. BMO Capital Markets decreased their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded BlackLine from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and an average price target of $66.40.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.93% of the stock is owned by insiders.

BlackLine Trading Down 1.3 %

NASDAQ:BL opened at $49.32 on Friday. The company has a 50-day moving average price of $60.07 and a 200-day moving average price of $56.87. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 10.99 and a beta of 0.92. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Equities analysts predict that BlackLine, Inc. will post 0.93 EPS for the current year.

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.