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

Amundi lowered its position in BlackLine, Inc. (NASDAQ:BL) by 64.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,274 shares of the technology company’s stock after selling 97,507 shares during the period. Amundi owned 0.09% of BlackLine worth $3,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BL. SBI Securities Co. Ltd. acquired a new position in BlackLine in the fourth quarter worth approximately $31,000. Global Retirement Partners LLC increased its holdings in BlackLine by 568.4% in 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 during the last quarter. GAMMA Investing LLC boosted its position in 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 purchasing an additional 185 shares during the period. Asset Management One Co. Ltd. boosted its position in BlackLine by 19.8% during the fourth 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 period. Finally, KBC Group NV boosted its position in 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 purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction 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 completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on BlackLine from $60.00 to $58.00 and set an “underweight” 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 upped their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. BMO Capital Markets decreased their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Truist Financial decreased their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. Finally, StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $66.40.

BlackLine Stock Performance

Shares of NASDAQ BL opened at $49.89 on Monday. The business has a fifty day simple moving average of $55.68 and a 200 day simple moving average of $56.78. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 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 EPS for the current 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.