BlackLine, Inc. (NASDAQ:BL) Holdings Lifted by Barton Investment Management

Barton Investment Management increased its holdings in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 615,677 shares of the technology company’s stock after buying an additional 300 shares during the quarter. BlackLine accounts for approximately 8.3% of Barton Investment Management’s holdings, making the stock its 4th biggest position. Barton Investment Management’s holdings in BlackLine were worth $41,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BL. Quadrant Capital Group LLC grew its stake in BlackLine by 3,036.4% in the first 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 in the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of BlackLine in the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of BlackLine in the first quarter worth about $48,000. Benjamin Edwards Inc. lifted its position in shares of BlackLine by 9,762.5% in the first quarter. Benjamin Edwards Inc. now owns 789 shares of the technology company’s stock worth $58,000 after buying an additional 781 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of BlackLine in the fourth quarter worth about $60,000.

BlackLine Price Performance

NASDAQ BL traded down $2.84 during trading hours on Friday, reaching $57.60. 15,618 shares of the company’s stock were exchanged, compared to its average volume of 435,058. The stock has a market cap of $3.43 billion, a PE ratio of -47.71 and a beta of 0.80. BlackLine, Inc. has a one year low of $49.66 and a one year high of $135.00. The firm has a fifty day moving average of $67.35 and a 200-day moving average of $68.76. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 17.46.

BlackLine (NASDAQ:BLGet Rating) last released its quarterly earnings results on Thursday, August 4th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The business had revenue of $128.48 million for the quarter, compared to the consensus estimate of $126.54 million. BlackLine had a negative return on equity of 22.04% and a negative net margin of 15.09%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. On average, equities research analysts predict that BlackLine, Inc. will post -0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Credit Suisse Group assumed coverage on BlackLine in a research report on Friday. They set a “neutral” rating and a $75.00 price objective for the company. StockNews.com lowered BlackLine from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Citigroup assumed coverage on BlackLine in a research note on Thursday, September 1st. They set a “neutral” rating and a $73.00 price target on the stock. Finally, Bank of America lowered BlackLine from a “neutral” rating to an “underperform” rating and lowered their price target 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, BlackLine currently has an average rating of “Hold” and an average price target of $92.80.

Insider Buying and Selling

In other BlackLine news, Director Thomas Unterman sold 500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $62.42, for a total transaction of $31,210.00. Following the transaction, the director now owns 50,589 shares of the company’s stock, valued at approximately $3,157,765.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other BlackLine news, Director Thomas Unterman sold 500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $62.42, for a total transaction of $31,210.00. Following the transaction, the director now owns 50,589 shares of the company’s stock, valued at approximately $3,157,765.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Peter Hirsch sold 1,997 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $69.91, for a total value of $139,610.27. Following the transaction, the chief technology officer now directly owns 34,427 shares in the company, valued at approximately $2,406,791.57. The disclosure for this sale can be found here. Insiders have sold a total of 2,997 shares of company stock worth $204,000 in the last three months. 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.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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