Silver Lake Group L.L.C. trimmed its holdings in Blackline Inc (NASDAQ:BL) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,983,873 shares of the technology company’s stock after selling 100,000 shares during the period. Blackline accounts for about 7.0% of Silver Lake Group L.L.C.’s holdings, making the stock its 8th biggest holding. Silver Lake Group L.L.C. owned 7.29% of Blackline worth $224,969,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Architects Inc purchased a new stake in shares of Blackline in the second quarter valued at about $102,000. Great West Life Assurance Co. Can grew its holdings in shares of Blackline by 129.4% in the second quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock valued at $139,000 after purchasing an additional 1,811 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Blackline in the second quarter valued at about $206,000. BB&T Corp purchased a new stake in shares of Blackline in the third quarter valued at about $212,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Blackline in the third quarter valued at about $213,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
BL stock traded up $0.42 during mid-day trading on Friday, hitting $43.02. 2,185 shares of the company were exchanged, compared to its average volume of 643,632. The firm has a market cap of $2.29 billion, a PE ratio of -117.81 and a beta of 1.01. Blackline Inc has a 12-month low of $31.53 and a 12-month high of $58.11.
Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. Blackline had a negative net margin of 12.02% and a negative return on equity of 3.58%. The business had revenue of $58.70 million during the quarter, compared to analyst estimates of $57.64 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackline Inc will post -0.27 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Blackline from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. CIBC assumed coverage on shares of Blackline in a research note on Friday, October 19th. They set a “market perform” rating for the company. Oppenheimer assumed coverage on shares of Blackline in a research note on Friday, October 19th. They set a “market perform” rating for the company. BidaskClub lowered shares of Blackline from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, KeyCorp reaffirmed a “buy” rating and set a $56.00 target price (down previously from $65.00) on shares of Blackline in a research note on Thursday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.20.
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Blackline Company Profile
BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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