Fiera Capital Corp acquired a new position in Blackline Inc (NYSE:BL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 227,270 shares of the technology company’s stock, valued at approximately $8,123,000. Fiera Capital Corp owned 0.44% of Blackline at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in BL. Teachers Advisors LLC acquired a new position in shares of Blackline during the fourth quarter valued at $310,000. Nationwide Fund Advisors boosted its holdings in shares of Blackline by 26.7% during the first quarter. Nationwide Fund Advisors now owns 5,776 shares of the technology company’s stock valued at $172,000 after acquiring an additional 1,217 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Blackline during the first quarter valued at $941,000. Wells Fargo & Company MN boosted its holdings in shares of Blackline by 346.5% during the first quarter. Wells Fargo & Company MN now owns 271,726 shares of the technology company’s stock valued at $8,086,000 after acquiring an additional 210,875 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Blackline by 15.8% during the first quarter. Bank of New York Mellon Corp now owns 31,664 shares of the technology company’s stock valued at $943,000 after acquiring an additional 4,311 shares during the period.
Shares of Blackline Inc (NYSE:BL) opened at 33.88 on Friday. Blackline Inc has a 52 week low of $21.66 and a 52 week high of $36.53. The company’s 50 day moving average is $34.88 and its 200-day moving average is $32.16. The company’s market capitalization is $1.78 billion.
Blackline (NYSE:BL) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $41.45 million. Blackline had a negative return on equity of 13.96% and a negative net margin of 23.91%. The company’s revenue was up 45.9% compared to the same quarter last year. On average, analysts expect that Blackline Inc will post ($0.17) EPS for the current fiscal year.
In other news, insider Mario Spanicciati sold 12,750 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.79, for a total transaction of $456,322.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Therese Tucker sold 20,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The disclosure for this sale can be found here. Insiders have sold 151,750 shares of company stock worth $5,067,935 in the last 90 days.
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Several brokerages have recently issued reports on BL. JMP Securities began coverage on shares of Blackline in a report on Monday, June 26th. They set a “market perform” rating for the company. SunTrust Banks, Inc. began coverage on shares of Blackline in a report on Monday, June 26th. They set a “buy” rating and a $43.00 price target for the company. Zacks Investment Research downgraded shares of Blackline from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub raised shares of Blackline from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, ValuEngine raised shares of Blackline from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.78.
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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