Swiss National Bank lifted its stake in Blackline Inc (NASDAQ:BL) by 84.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,400 shares of the technology company’s stock after purchasing an additional 18,000 shares during the quarter. Swiss National Bank owned about 0.07% of Blackline worth $1,292,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of BL. New York State Common Retirement Fund boosted its position in shares of Blackline by 483.5% in the 3rd quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock worth $2,628,000 after purchasing an additional 63,817 shares in the last quarter. Rhumbline Advisers raised its holdings in Blackline by 20.3% in the 3rd quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock worth $520,000 after acquiring an additional 2,570 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Blackline by 28.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after acquiring an additional 12,121 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Blackline by 136.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 204,938 shares of the technology company’s stock worth $6,992,000 after acquiring an additional 118,255 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Blackline by 53.5% in the 3rd quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after acquiring an additional 3,646 shares during the last quarter. 79.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Blackline from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. KeyCorp boosted their price objective on shares of Blackline from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Investment Research lowered shares of Blackline from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. JMP Securities upgraded shares of Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, Robert W. Baird restated a “buy” rating on shares of Blackline in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Blackline has an average rating of “Buy” and a consensus price target of $38.95.
Blackline (NASDAQ:BL) last announced its earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The business had revenue of $50.23 million during the quarter, compared to analyst estimates of $47.69 million. Blackline had a negative net margin of 21.50% and a negative return on equity of 6.53%. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. equities research analysts expect that Blackline Inc will post -0.28 earnings per share for the current year.
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BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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