Vanguard Group Inc. Buys 14,982 Shares of BlackLine, Inc. (NASDAQ:BL)

Vanguard Group Inc. boosted its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,212,645 shares of the technology company's stock after acquiring an additional 14,982 shares during the period. Vanguard Group Inc. owned 11.54% of BlackLine worth $438,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BL. SBI Securities Co. Ltd. acquired a new stake in BlackLine during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC increased its position in BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after buying an additional 449 shares during the period. GAMMA Investing LLC lifted its holdings in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock worth $39,000 after buying an additional 185 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock valued at $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV grew its stake in shares of BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company's stock valued at $132,000 after acquiring an additional 666 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

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Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.93% of the company's stock.

BlackLine Trading Down 4.3 %

Shares of NASDAQ:BL traded down $1.98 during midday trading on Friday, hitting $44.10. 1,292,352 shares of the stock were exchanged, compared to its average volume of 800,207. The business's 50-day moving average price is $52.79 and its 200 day moving average price is $56.77. BlackLine, Inc. has a 12 month low of $43.02 and a 12 month high of $69.09. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

BL has been the subject of a number of recent research reports. StockNews.com downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Piper Sandler lowered their price objective on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 12th. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and boosted their target price for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Finally, Truist Financial cut their target price on BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, BlackLine has a consensus rating of "Hold" and an average price target of $65.64.

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.