Federated Hermes Inc. Boosts Holdings in BlackLine, Inc. (NASDAQ:BL)

Federated Hermes Inc. lifted its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,370 shares of the technology company's stock after acquiring an additional 7,316 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of BlackLine worth $4,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of BlackLine during the 4th quarter worth $31,000. Global Retirement Partners LLC raised its stake in shares of BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock valued at $32,000 after buying an additional 449 shares during the period. Quadrant Capital Group LLC lifted its position in shares of BlackLine by 243.5% during the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after buying an additional 414 shares during the last quarter. GAMMA Investing LLC increased its holdings in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock worth $39,000 after acquiring an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in BlackLine in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BL. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and set a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. Citigroup reduced their price objective on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Truist Financial lowered their target price on shares of BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, StockNews.com cut shares of BlackLine from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, BlackLine currently has a consensus rating of "Hold" and a consensus price target of $61.00.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the sale, the executive now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.60% of the company's stock.

BlackLine Trading Down 0.4 %

Shares of BlackLine stock traded down $0.18 during trading on Friday, reaching $44.44. The company's stock had a trading volume of 412,256 shares, compared to its average volume of 807,505. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 52-week low of $40.82 and a 52-week high of $66.25. The firm's 50-day moving average is $48.51 and its two-hundred day moving average is $56.10. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current year.

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.