American Century Companies Inc. Buys 889,570 Shares of BlackLine, Inc. (NASDAQ:BL)

American Century Companies Inc. raised its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 12,538.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 896,665 shares of the technology company’s stock after acquiring an additional 889,570 shares during the period. American Century Companies Inc. owned about 1.43% of BlackLine worth $54,481,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in shares of BlackLine by 87.2% during the 4th quarter. Teacher Retirement System of Texas now owns 11,740 shares of the technology company’s stock worth $713,000 after buying an additional 5,467 shares in the last quarter. Xponance Inc. lifted its holdings in BlackLine by 9.2% during the fourth quarter. Xponance Inc. now owns 4,142 shares of the technology company’s stock worth $252,000 after acquiring an additional 350 shares during the period. Intech Investment Management LLC lifted its holdings in BlackLine by 36.1% during the fourth quarter. Intech Investment Management LLC now owns 20,201 shares of the technology company’s stock worth $1,227,000 after acquiring an additional 5,360 shares during the period. Cibc World Markets Corp purchased a new position in BlackLine in the fourth quarter worth $328,000. Finally, Corient Private Wealth LLC bought a new position in BlackLine in the 4th quarter valued at $254,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BL has been the topic of a number of recent analyst reports. BMO Capital Markets lowered 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. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler reduced their target price 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. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. Finally, StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and a consensus target price of $66.40.

BlackLine Stock Down 0.3 %

Shares of NASDAQ BL opened at $50.52 on Thursday. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market cap of $3.17 billion, a P/E ratio of 34.84, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09. The business has a 50-day simple moving average of $54.49 and a two-hundred day simple moving average of $56.79.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Research analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other 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 completion of the sale, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.93% of the company’s stock.

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.