BlackLine, Inc. (NASDAQ:BL) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its stake in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,129 shares of the technology company’s stock after purchasing an additional 2,849 shares during the quarter. Raymond James & Associates owned 0.16% of BlackLine worth $6,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BL. Quadrant Capital Group LLC lifted its stake in shares of BlackLine by 3,036.4% during the first quarter. Quadrant Capital Group LLC now owns 345 shares of the technology company’s stock worth $25,000 after purchasing an additional 334 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in shares of BlackLine in the first quarter worth about $25,000. Pinebridge Investments L.P. acquired a new position in shares of BlackLine in the fourth quarter worth about $41,000. Mascoma Wealth Management LLC acquired a new position in shares of BlackLine in the first quarter worth about $48,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of BlackLine by 9,762.5% in the first quarter. Benjamin Edwards Inc. now owns 789 shares of the technology company’s stock worth $58,000 after acquiring an additional 781 shares in the last quarter.

BlackLine Stock Up 1.0 %

Shares of BlackLine stock opened at $65.67 on Friday. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 17.46. The business’s 50 day simple moving average is $68.36 and its 200-day simple moving average is $69.37. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -54.27 and a beta of 0.84. BlackLine, Inc. has a twelve month low of $49.66 and a twelve month high of $135.00.

BlackLine (NASDAQ:BLGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The technology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The company had revenue of $128.48 million for the quarter, compared to analyst estimates of $126.54 million. BlackLine had a negative return on equity of 22.04% and a negative net margin of 15.09%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Equities research analysts forecast that BlackLine, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on BL shares. Citigroup started coverage on BlackLine in a research note on Thursday. They issued a “neutral” rating and a $73.00 price target on the stock. StockNews.com cut BlackLine from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Bank of America cut BlackLine from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $75.00 to $64.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.78.

Insider Activity at BlackLine

In related news, CTO Peter Hirsch sold 1,997 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $69.91, for a total value of $139,610.27. Following the sale, the chief technology officer now directly owns 34,427 shares in the company, valued at approximately $2,406,791.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Peter Hirsch sold 1,997 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $69.91, for a total value of $139,610.27. Following the sale, the chief technology officer now directly owns 34,427 shares in the company, valued at approximately $2,406,791.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Unterman sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $62.42, for a total value of $31,210.00. Following the completion of the sale, the director now owns 50,589 shares in the company, valued at $3,157,765.38. The disclosure for this sale can be found here. Insiders have sold a total of 2,997 shares of company stock worth $204,000 in the last three months. 9.71% of the stock is owned by company insiders.

BlackLine Company Profile

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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 high volumes of individual transactions; and task management to create and manage processes and task lists.

See Also

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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