NBC Securities Inc. Buys 8,006 Shares of BlackLine, Inc. (NASDAQ:BL)

NBC Securities Inc. increased its stake in BlackLine, Inc. (NASDAQ:BL) by 100,075.0% during the first quarter, Holdings Channel reports. The firm owned 8,014 shares of the technology company’s stock after acquiring an additional 8,006 shares during the period. NBC Securities Inc.’s holdings in BlackLine were worth $388,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in BlackLine in the fourth quarter valued at about $31,000. Global Retirement Partners LLC boosted its stake in BlackLine by 568.4% in 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 in the last quarter. Quadrant Capital Group LLC boosted its stake in BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after buying an additional 414 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of BlackLine during the fourth quarter valued at about $50,000. Finally, Huntington National Bank boosted its stake in shares of BlackLine by 596.4% during the fourth quarter. Huntington National Bank now owns 968 shares of the technology company’s stock valued at $59,000 after purchasing an additional 829 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BL shares. DA Davidson cut their price target on BlackLine from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wall Street Zen lowered BlackLine from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Piper Sandler lifted their price target on BlackLine from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. BMO Capital Markets cut their price target 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. Finally, Truist Financial lifted their price target on BlackLine from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.54.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 1,856 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total value of $101,430.40. Following the transaction, the executive now directly owns 61,390 shares of the company’s stock, valued at approximately $3,354,963.50. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michelle D. Stalick sold 795 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

BlackLine Price Performance

Shares of BL opened at $57.35 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 company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The business has a 50-day moving average of $50.02 and a 200-day moving average of $54.79.

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.