Moody Aldrich Partners LLC purchased a new stake in Blackline Inc (NASDAQ:BL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 37,557 shares of the technology company’s stock, valued at approximately $3,114,000. Moody Aldrich Partners LLC owned approximately 0.07% of Blackline at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL grew its stake in shares of Blackline by 0.8% in the first quarter. Blair William & Co. IL now owns 298,134 shares of the technology company’s stock worth $15,685,000 after acquiring an additional 2,325 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Blackline in the first quarter worth $35,000. JPMorgan Chase & Co. lifted its holdings in shares of Blackline by 2,500.4% in the first quarter. JPMorgan Chase & Co. now owns 460,536 shares of the technology company’s stock worth $24,229,000 after buying an additional 442,826 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Blackline by 20.6% in the first quarter. Citigroup Inc. now owns 37,322 shares of the technology company’s stock worth $1,963,000 after buying an additional 6,364 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in Blackline by 9.2% during the first quarter. Gradient Investments LLC now owns 27,434 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.
NASDAQ BL traded up $0.34 on Friday, reaching $88.91. The stock had a trading volume of 325,915 shares, compared to its average volume of 332,407. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.61 and a current ratio of 3.61. Blackline Inc has a 12-month low of $38.32 and a 12-month high of $90.70. The business’s 50-day moving average price is $83.65 and its 200 day moving average price is $66.66. The stock has a market cap of $5.01 billion, a P/E ratio of -136.78 and a beta of 0.94.
Blackline (NASDAQ:BL) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.05. Blackline had a negative return on equity of 2.61% and a negative net margin of 11.87%. The business had revenue of $82.60 million during the quarter, compared to analysts’ expectations of $79.54 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Blackline Inc will post -0.28 earnings per share for the current year.
BL has been the topic of a number of analyst reports. BidaskClub upgraded shares of Blackline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Zacks Investment Research raised shares of Blackline from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Monday, June 29th. Piper Sandler raised their price target on shares of Blackline from $69.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. JMP Securities raised their price target on shares of Blackline from $62.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, ValuEngine cut shares of Blackline from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $78.44.
In other news, CFO Mark Partin sold 40,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $86.08, for a total value of $3,443,200.00. Following the sale, the chief financial officer now owns 139,588 shares of the company’s stock, valued at approximately $12,015,735.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mario Spanicciati sold 66,356 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $58.07, for a total value of $3,853,292.92. Following the completion of the sale, the director now directly owns 18,347 shares in the company, valued at approximately $1,065,410.29. The disclosure for this sale can be found here. Insiders sold a total of 165,926 shares of company stock worth $11,186,789 in the last three months. Company insiders own 13.44% of the company’s stock.
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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