Brown Advisory Inc. Has $96.35 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Brown Advisory Inc. boosted its position in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 49.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,313,280 shares of the technology company’s stock after purchasing an additional 434,655 shares during the quarter. Brown Advisory Inc.’s holdings in BlackLine were worth $96,354,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in shares of BlackLine by 3,036.4% in the 1st quarter. Quadrant Capital Group LLC now owns 345 shares of the technology company’s stock valued at $25,000 after purchasing an additional 334 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of BlackLine in the 4th quarter valued at $41,000. Maverick Capital Ltd. acquired a new position in shares of BlackLine in the 4th quarter valued at $60,000. Confluence Wealth Services Inc. bought a new stake in shares of BlackLine in the 4th quarter valued at $61,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of BlackLine in the 1st quarter valued at $48,000.

BlackLine Trading Down 0.5 %

Shares of NASDAQ BL opened at $67.27 on Friday. The business has a 50-day moving average of $69.20 and a 200-day moving average of $71.70. The company has a debt-to-equity ratio of 20.88, a quick ratio of 3.45 and a current ratio of 3.45. BlackLine, Inc. has a fifty-two week low of $49.66 and a fifty-two week high of $135.00.

BlackLine (NASDAQ:BLGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $128.48 million during the quarter, compared to analysts’ expectations of $126.54 million. BlackLine had a negative return on equity of 18.32% and a negative net margin of 15.09%. BlackLine’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. As a group, sell-side analysts anticipate that BlackLine, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BL. BTIG Research lowered their price objective on shares of BlackLine from $115.00 to $95.00 in a research report on Friday, May 6th. StockNews.com cut shares of BlackLine from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd. Robert W. Baird lowered their price objective on shares of BlackLine from $105.00 to $95.00 in a research report on Friday, May 6th. JMP Securities lowered their price objective on shares of BlackLine from $145.00 to $112.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BlackLine from $75.00 to $70.00 in a research report on Friday, May 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, BlackLine has an average rating of “Hold” and a consensus price target of $96.89.

Insider Activity

In related news, CTO Peter Hirsch sold 2,592 shares of BlackLine stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $71.77, for a total transaction of $186,027.84. Following the completion of the transaction, 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. In related news, CTO Peter Hirsch sold 2,592 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $71.77, for a total transaction of $186,027.84. Following the transaction, the chief technology officer now directly owns 38,391 shares of the company’s stock, valued at approximately $2,755,322.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $66.36, for a total value of $33,180.00. Following the transaction, the director now directly owns 50,130 shares in the company, valued at $3,326,626.80. The disclosure for this sale can be found here. Insiders sold 4,092 shares of company stock worth $287,268 in the last quarter. Corporate insiders own 9.71% of the company’s stock.

BlackLine Company 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.

See Also

Want to see what other hedge funds are holding BL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackLine, Inc. (NASDAQ:BLGet Rating).

Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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