Amundi Has $3.10 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Amundi cut its holdings in BlackLine, Inc. (NASDAQ:BL) by 64.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,274 shares of the technology company’s stock after selling 97,507 shares during the quarter. Amundi’s holdings in BlackLine were worth $3,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its holdings in BlackLine by 1.3% in the third quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after acquiring an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 20.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after acquiring an additional 354,784 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 last quarter. Geode Capital Management LLC boosted its holdings in BlackLine by 0.3% in 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 acquiring an additional 3,498 shares during the last quarter. Finally, Engaged Capital LLC bought a new position in BlackLine in the third quarter valued at about $33,620,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets reduced their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Bank of America upgraded BlackLine from an “underperform” rating to a “buy” rating and raised their target price for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Truist Financial reduced their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.40.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 of the company’s stock, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.93% of the stock is owned by insiders.

BlackLine Trading Up 5.1 %

NASDAQ:BL opened at $49.89 on Monday. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week 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. The stock has a market capitalization of $3.13 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The business’s 50-day simple moving average is $55.68 and its 200-day simple moving average is $56.78.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Sell-side analysts expect that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

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.