Rhumbline Advisers Purchases 5,403 Shares of Blackline Inc (BL)

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Rhumbline Advisers boosted its position in Blackline Inc (NASDAQ:BL) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,127 shares of the technology company’s stock after purchasing an additional 5,403 shares during the quarter. Rhumbline Advisers owned about 0.06% of Blackline worth $1,352,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in Blackline by 16.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,001,067 shares of the technology company’s stock valued at $43,477,000 after purchasing an additional 139,885 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Blackline by 5.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 62,625 shares of the technology company’s stock valued at $2,455,000 after purchasing an additional 3,195 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Blackline by 23.6% in the 1st quarter. Artisan Partners Limited Partnership now owns 834,291 shares of the technology company’s stock valued at $32,713,000 after purchasing an additional 159,522 shares during the last quarter. Carleon Capital Partners LLC bought a new stake in Blackline in the 1st quarter valued at about $328,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Blackline by 55.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 162,913 shares of the technology company’s stock valued at $6,388,000 after purchasing an additional 58,330 shares during the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.

BL stock opened at $56.59 on Friday. Blackline Inc has a 52 week low of $31.53 and a 52 week high of $57.09.

Blackline (NASDAQ:BL) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Blackline had a negative net margin of 17.03% and a negative return on equity of 7.59%. The company had revenue of $55.45 million for the quarter, compared to the consensus estimate of $53.66 million. During the same period in the previous year, the firm earned ($0.03) EPS. Blackline’s revenue was up 32.1% on a year-over-year basis. equities research analysts forecast that Blackline Inc will post -0.32 earnings per share for the current year.

In related news, CFO Mark Partin sold 43,547 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $47.68, for a total value of $2,076,320.96. Following the sale, the chief financial officer now directly owns 70,819 shares in the company, valued at approximately $3,376,649.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Therese Tucker sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $47.72, for a total transaction of $4,772,000.00. Following the completion of the sale, the chief executive officer now owns 63,672 shares in the company, valued at $3,038,427.84. The disclosure for this sale can be found here. Insiders have sold a total of 311,829 shares of company stock worth $14,881,033 over the last 90 days. 18.60% of the stock is owned by insiders.

BL has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Blackline from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research downgraded shares of Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.80.

Blackline 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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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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