Fiera Capital Corp Cuts Holdings in Blackline Inc (NASDAQ:BL)

Fiera Capital Corp lowered its position in shares of Blackline Inc (NASDAQ:BL) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,130 shares of the technology company’s stock after selling 4,365 shares during the quarter. Fiera Capital Corp’s holdings in Blackline were worth $20,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Blackline by 4.0% during the 1st quarter. BlackRock Inc. now owns 2,770,273 shares of the technology company’s stock worth $128,318,000 after acquiring an additional 105,703 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Blackline during the fourth quarter worth about $60,107,000. Artisan Partners Limited Partnership grew its position in Blackline by 0.8% during the first quarter. Artisan Partners Limited Partnership now owns 1,325,337 shares of the technology company’s stock worth $61,390,000 after buying an additional 11,005 shares in the last quarter. Brown Advisory Inc. grew its position in Blackline by 16.6% during the fourth quarter. Brown Advisory Inc. now owns 1,165,308 shares of the technology company’s stock worth $47,719,000 after buying an additional 166,082 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in Blackline by 0.8% during the first quarter. Conestoga Capital Advisors LLC now owns 1,120,227 shares of the technology company’s stock worth $51,889,000 after purchasing an additional 9,390 shares during the period. Hedge funds and other institutional investors own 86.08% of the company’s stock.

BL opened at $49.57 on Wednesday. The firm has a market capitalization of $2.80 billion, a P/E ratio of -190.65 and a beta of 0.94. Blackline Inc has a 12 month low of $34.01 and a 12 month high of $58.11. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04.



Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.14. The business had revenue of $64.13 million for the quarter, compared to analysts’ expectations of $63.33 million. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. As a group, equities analysts forecast that Blackline Inc will post -0.29 EPS for the current year.

In other Blackline news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $50.01, for a total transaction of $500,100.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 15.77% of the company’s stock.

A number of research analysts have recently issued reports on BL shares. Zacks Investment Research cut shares of Blackline from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. BidaskClub lowered shares of Blackline from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Blackline in a research report on Thursday, February 14th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $54.50.

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Blackline Company Profile

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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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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