BlackLine $BL Shares Purchased by Gagnon Advisors LLC

Gagnon Advisors LLC increased its holdings in BlackLine (NASDAQ:BL) by 98.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 257,915 shares of the technology company’s stock after purchasing an additional 127,865 shares during the period. BlackLine makes up about 3.8% of Gagnon Advisors LLC’s investment portfolio, making the stock its 13th largest position. Gagnon Advisors LLC’s holdings in BlackLine were worth $6,842,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in BlackLine by 11.8% during the third quarter. Versant Capital Management Inc now owns 3,722 shares of the technology company’s stock valued at $99,000 after purchasing an additional 392 shares in the last quarter. State of Wyoming grew its stake in shares of BlackLine by 4.7% in the 1st quarter. State of Wyoming now owns 10,912 shares of the technology company’s stock worth $404,000 after buying an additional 486 shares in the last quarter. Cim Investment Management Inc. grew its stake in shares of BlackLine by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 12,525 shares of the technology company’s stock worth $352,000 after buying an additional 865 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of BlackLine in the 3rd quarter worth $25,000. Finally, Optiver Holding B.V. increased its holdings in shares of BlackLine by 13,828.6% in the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock worth $36,000 after buying an additional 968 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Performance

NASDAQ:BL opened at $28.48 on Friday. The firm has a market capitalization of $1.63 billion, a PE ratio of 25.39, a PEG ratio of 1.81 and a beta of 0.67. The stock’s fifty day moving average is $29.94 and its 200 day moving average is $32.07. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.72 and a current ratio of 1.69.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 5th. The technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $193.40 million during the quarter, compared to analyst estimates of $194.17 million. BlackLine had a net margin of 5.37% and a return on equity of 23.73%. BlackLine’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts anticipate that BlackLine will post 1.00 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BL has been the topic of several recent research reports. Wall Street Zen cut shares of BlackLine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Robert W. Baird set a $35.00 price target on shares of BlackLine in a report on Wednesday, August 5th. DA Davidson lowered BlackLine from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $30.00 to $23.00 in a research report on Monday, September 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $36.00 price objective on shares of BlackLine in a research note on Wednesday, August 5th. Finally, Citigroup decreased their price objective on BlackLine from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.58.

Insider Buying and Selling at BlackLine

In other news, CAO Michelle D. Stalick sold 780 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $33.65, for a total value of $26,247.00. Following the completion of the sale, the chief accounting officer owned 34,712 shares in the company, valued at approximately $1,168,058.80. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Therese Tucker sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the completion of the sale, the director owned 381,557 shares of the company’s stock, valued at $12,194,561.72. This trade represents a 15.50% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.10% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc. provides cloud-based software that helps organizations automate accounting and finance operations. Its platform supports processes such as financial close management, account reconciliations, intercompany accounting, and financial reporting. The company’s products also help businesses manage accounts receivable and invoice-to-cash workflows, including cash application and collections. BlackLine’s software is designed to work alongside enterprise resource planning systems and other financial applications.