State of New Jersey Common Pension Fund D purchased a new position in shares of Blackline Inc (NASDAQ:BL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,200 shares of the technology company’s stock, valued at approximately $2,209,000. State of New Jersey Common Pension Fund D owned approximately 0.08% of Blackline at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Blackline by 47.1% during the 1st quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after purchasing an additional 361,839 shares during the last quarter. Cortina Asset Management LLC acquired a new position in shares of Blackline during the 2nd quarter worth approximately $5,390,000. Copper Rock Capital Partners LLC raised its position in shares of Blackline by 30.4% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 466,243 shares of the technology company’s stock worth $24,949,000 after purchasing an additional 108,655 shares during the last quarter. Schwab Charitable Fund acquired a new position in shares of Blackline during the 2nd quarter worth approximately $286,000. Finally, Riverbridge Partners LLC raised its position in shares of Blackline by 33.7% during the 2nd quarter. Riverbridge Partners LLC now owns 1,906,518 shares of the technology company’s stock worth $102,018,000 after purchasing an additional 481,071 shares during the last quarter. 84.10% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on BL shares. ValuEngine downgraded Blackline from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. First Analysis started coverage on Blackline in a research report on Friday, October 4th. They set an “outperform” rating and a $55.00 price objective for the company. KeyCorp lifted their price objective on Blackline from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TheStreet upgraded Blackline from a “d+” rating to a “c” rating in a research report on Monday, October 28th. Finally, Zacks Investment Research downgraded Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $52.50.
Blackline (NASDAQ:BL) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The company had revenue of $74.93 million during the quarter, compared to the consensus estimate of $72.33 million. Blackline had a negative return on equity of 4.05% and a negative net margin of 10.20%. Blackline’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts forecast that Blackline Inc will post -0.28 earnings per share for the current fiscal year.
In other Blackline news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $50.99, for a total value of $509,900.00. Following the completion of the transaction, the chief financial officer now directly owns 64,294 shares in the company, valued at approximately $3,278,351.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.77% 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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