Vanguard Group Inc. Has $420.73 Million Stock Position in BlackLine, Inc. (NASDAQ:BL)

Vanguard Group Inc. lifted its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,738,189 shares of the technology company’s stock after purchasing an additional 79,649 shares during the quarter. Vanguard Group Inc. owned approximately 10.95% of BlackLine worth $420,733,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BL. Rhumbline Advisers increased its stake in shares of BlackLine by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 80,862 shares of the technology company’s stock worth $4,485,000 after purchasing an additional 2,374 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of BlackLine by 33.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 320,139 shares of the technology company’s stock worth $17,758,000 after buying an additional 80,391 shares during the period. Federated Hermes Inc. boosted its holdings in shares of BlackLine by 505.2% during the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after buying an additional 773 shares during the period. Northern Trust Corp boosted its holdings in shares of BlackLine by 16.7% during the 3rd quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock worth $43,671,000 after buying an additional 112,684 shares during the period. Finally, Natixis Advisors L.P. boosted its holdings in shares of BlackLine by 7.0% during the 3rd quarter. Natixis Advisors L.P. now owns 29,431 shares of the technology company’s stock worth $1,633,000 after buying an additional 1,933 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Trading Up 1.1 %

Shares of BL stock opened at $47.17 on Thursday. BlackLine, Inc. has a 52-week low of $43.79 and a 52-week high of $69.31. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 205.09, a P/E/G ratio of 5.38 and a beta of 0.86. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a fifty day moving average of $52.74 and a 200-day moving average of $58.35.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. On average, equities research analysts forecast that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on BL shares. William Blair raised shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. Citigroup decreased their price objective on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and increased their price target for the company from $55.00 to $62.00 in a report on Tuesday, April 23rd. BMO Capital Markets increased their price target on shares of BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Finally, Wolfe Research assumed coverage on shares of BlackLine in a report on Monday, March 18th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.56.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the completion of the sale, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the sale, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Owen Ryan acquired 3,000 shares of the stock in a transaction on Friday, May 24th. The stock was bought at an average price of $49.88 per share, with a total value of $149,640.00. Following the transaction, the chief executive officer now directly owns 145,948 shares in the company, valued at approximately $7,279,886.24. The disclosure for this purchase can be found here. 9.53% of the stock is currently owned by corporate insiders.

BlackLine Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.