SG Americas Securities LLC Has $654,000 Stake in BlackLine, Inc. (NASDAQ:BL)

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

In related news, CTO Peter Hirsch sold 2,592 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $71.77, for a total value of $186,027.84. Following the transaction, the chief technology officer now directly owns 38,391 shares in the company, valued at $2,755,322.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Peter Hirsch sold 2,592 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $71.77, for a total value of $186,027.84. Following the completion of the sale, the chief technology officer now owns 38,391 shares in the company, valued at $2,755,322.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Unterman sold 500 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $73.70, for a total value of $36,850.00. Following the transaction, the director now owns 49,668 shares in the company, valued at approximately $3,660,531.60. The disclosure for this sale can be found here. Insiders sold a total of 4,092 shares of company stock worth $287,268 in the last quarter. 9.71% of the stock is owned by company insiders.

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 Profile

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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.

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