Evanson Asset Management LLC grew its position in shares of Blackline Inc (NASDAQ:BL) by 19.5% in the 4th quarter, Holdings Channel reports. The fund owned 7,350 shares of the technology company’s stock after buying an additional 1,200 shares during the quarter. Evanson Asset Management LLC’s holdings in Blackline were worth $301,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rehmann Capital Advisory Group purchased a new stake in shares of Blackline during the third quarter valued at approximately $63,000. Great West Life Assurance Co. Can grew its holdings in shares of Blackline by 129.4% during 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 buying an additional 1,811 shares during the last quarter. BB&T Corp purchased a new stake in shares of Blackline during the third quarter valued at approximately $212,000. Ibex Investors LLC purchased a new stake in shares of Blackline during the third quarter valued at approximately $212,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Blackline during the third quarter valued at approximately $213,000. Institutional investors own 81.56% of the company’s stock.
A number of research firms have recently commented on BL. Robert W. Baird cut their price target on shares of Blackline from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. CIBC initiated coverage on shares of Blackline in a report on Friday, October 19th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Blackline from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, January 1st. Oppenheimer initiated coverage on shares of Blackline in a research report on Friday, October 19th. They set a “market perform” rating on the stock. Finally, BidaskClub downgraded shares of Blackline from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $45.20.
Blackline (NASDAQ:BL) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.15. The company had revenue of $58.70 million for the quarter, compared to the consensus estimate of $57.64 million. Blackline had a negative net margin of 12.02% and a negative return on equity of 3.58%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts expect that Blackline Inc will post -0.27 EPS for the current year.
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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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