New Age Alpha Advisors LLC Invests $153,000 in BlackLine, Inc. (NASDAQ:BL)

New Age Alpha Advisors LLC acquired a new stake in BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,511 shares of the technology company’s stock, valued at approximately $153,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in BlackLine by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company’s stock valued at $27,307,000 after purchasing an additional 20,027 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in BlackLine by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company’s stock worth $6,566,000 after acquiring an additional 753 shares during the period. Atom Investors LP bought a new position in BlackLine in the third quarter worth about $285,000. Centiva Capital LP acquired a new position in BlackLine in the third quarter valued at approximately $336,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of BlackLine by 63.0% during the third quarter. Point72 Asset Management L.P. now owns 317,991 shares of the technology company’s stock valued at $17,534,000 after purchasing an additional 122,849 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Stock Performance

BL opened at $49.44 on Thursday. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.09. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The business has a 50 day moving average price of $53.40 and a two-hundred day moving average price of $56.80. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69.

BlackLine (NASDAQ:BL) last announced 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%. Research analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BL shares. BMO Capital Markets reduced their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Citigroup reduced their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. StockNews.com cut shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. DA Davidson started coverage on shares of BlackLine in a research note on Tuesday. They set a “buy” rating and a $58.00 target price for the company. Finally, Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and upped their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.64.

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.