Stanley Laman Group Ltd. Has $4.79 Million Stake in BlackLine, Inc. (NASDAQ:BL)

Stanley Laman Group Ltd. grew its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,879 shares of the technology company’s stock after acquiring an additional 5,566 shares during the period. Stanley Laman Group Ltd. owned 0.16% of BlackLine worth $4,788,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine during the 4th quarter valued at $31,000. Global Retirement Partners LLC increased 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 purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after purchasing an additional 414 shares during the period. Headlands Technologies LLC bought a new position in shares of BlackLine during the 4th quarter worth about $50,000. Finally, Huntington National Bank grew its stake in shares of BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company’s stock valued at $59,000 after buying an additional 829 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. DA Davidson dropped 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 report on Thursday, May 15th. Cantor Fitzgerald began coverage on BlackLine in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $58.00 target price on the stock. Piper Sandler lifted their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.54.

BlackLine Stock Performance

NASDAQ BL opened at $55.77 on Friday. The company has a fifty day moving average price of $50.88 and a 200-day moving average price of $54.65. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 10.80 and a beta of 0.94. 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, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25.

Insider Activity

In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at $1,391,457.90. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Mark Woodhams sold 1,856 shares of the firm’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 transaction of $101,430.40. Following the sale, the executive now 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 position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

About BlackLine

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.