BlackLine, Inc. (NASDAQ:BL) Stake Boosted by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,212,645 shares of the technology company’s stock after purchasing an additional 14,982 shares during the period. Vanguard Group Inc. owned about 11.54% of BlackLine worth $438,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BL. Conestoga Capital Advisors LLC grew its position in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after buying an additional 354,784 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in BlackLine by 35.3% in the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after acquiring an additional 435,271 shares during the period. Geode Capital Management LLC grew its holdings in shares of BlackLine by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock valued at $70,704,000 after purchasing an additional 3,498 shares during the last quarter. American Century Companies Inc. raised its position in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock worth $54,481,000 after purchasing an additional 889,570 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of BlackLine by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 501,699 shares of the technology company’s stock worth $30,483,000 after purchasing an additional 6,477 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Price Performance

Shares of NASDAQ:BL opened at $49.13 on Wednesday. The company has a market capitalization of $3.09 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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 fifty day moving average of $53.61 and a 200-day moving average of $56.86. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09.

BlackLine (NASDAQ:BL) last announced its 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 anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the firm’s 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 completion of the sale, the executive now owns 65,414 shares of the company’s stock, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 9.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on BL shares. Piper Sandler dropped their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. Truist Financial dropped their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets decreased their target price on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company 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 target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Citigroup decreased their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and a consensus target price of $65.64.

BlackLine 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.