BlackLine, Inc. (NASDAQ:BL) Stake Reduced by Amundi

Amundi cut its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 64.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,274 shares of the technology company's stock after selling 97,507 shares during the quarter. Amundi owned 0.09% of BlackLine worth $3,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BL. SBI Securities Co. Ltd. purchased a new position in shares of BlackLine during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC increased its position in BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after buying an additional 449 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after acquiring an additional 185 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock worth $77,000 after purchasing an additional 209 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of 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 owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CRO Mark Woodhams sold 9,088 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % 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. 9.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BL has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Truist Financial cut their target price on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reduced their target price on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $66.40.

BlackLine Stock Performance

Shares of BL stock traded down $0.38 during trading hours on Thursday, reaching $49.78. The stock had a trading volume of 513,378 shares, compared to its average volume of 775,385. The firm has a market capitalization of $3.13 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The firm has a 50-day simple moving average of $55.18 and a 200-day simple moving average of $56.73. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS 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%. As a group, equities analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current year.

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.