SG Americas Securities LLC reduced its holdings in BlackLine, Inc. (NASDAQ:BL – Get Rating) by 96.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,931 shares of the technology company’s stock after selling 244,347 shares during the quarter. SG Americas Securities LLC’s holdings in BlackLine were worth $654,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Pinebridge Investments L.P. acquired a new stake in BlackLine in the 4th quarter worth $41,000. Mascoma Wealth Management LLC acquired a new stake in BlackLine during the first quarter worth about $48,000. Maverick Capital Ltd. acquired a new position in BlackLine in the 4th quarter valued at approximately $60,000. Confluence Wealth Services Inc. bought a new stake in shares of BlackLine in the 4th quarter worth approximately $61,000. Finally, CWM LLC acquired a new stake in shares of BlackLine during the 4th quarter worth approximately $124,000.
Analyst Upgrades and Downgrades
BL has been the subject of several research reports. Robert W. Baird reduced their target price on BlackLine from $105.00 to $95.00 in a research report on Friday, May 6th. Bank of America cut shares of BlackLine from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $75.00 to $64.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. StockNews.com cut shares of BlackLine from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd. BTIG Research lowered their price objective on BlackLine from $115.00 to $95.00 in a research note on Friday, May 6th. Finally, JPMorgan Chase & Co. cut their target price on BlackLine from $75.00 to $70.00 in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.89.
Insider Transactions at BlackLine
BlackLine Price Performance
Shares of BL stock opened at $64.34 on Wednesday. BlackLine, Inc. has a 52 week low of $49.66 and a 52 week high of $135.00. The stock has a market capitalization of $3.82 billion, a PE ratio of -43.77 and a beta of 0.84. The company has a debt-to-equity ratio of 20.88, a quick ratio of 3.45 and a current ratio of 3.45. The stock’s fifty day moving average is $69.53 and its 200-day moving average is $71.91.
BlackLine (NASDAQ:BL – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The technology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.11. BlackLine had a negative net margin of 19.28% and a negative return on equity of 12.37%. The firm had revenue of $120.24 million for the quarter, compared to analyst estimates of $119.57 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was up 21.6% on a year-over-year basis. Equities research analysts expect that BlackLine, Inc. will post -0.86 EPS for the current fiscal year.
BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.
- Get a free copy of the StockNews.com research report on BlackLine (BL)
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