Strs Ohio Raises Holdings in Blackline Inc (NASDAQ:BL)

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Strs Ohio boosted its stake in shares of Blackline Inc (NASDAQ:BL) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,600 shares of the technology company’s stock after purchasing an additional 1,800 shares during the quarter. Strs Ohio’s holdings in Blackline were worth $995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BL. Carnegie Capital Asset Management LLC raised its stake in shares of Blackline by 38.7% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 47,100 shares of the technology company’s stock worth $2,520,000 after buying an additional 13,150 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Blackline during the 2nd quarter worth approximately $753,000. Hardy Reed LLC purchased a new position in shares of Blackline during the 2nd quarter worth approximately $212,000. Tompkins Financial Corp purchased a new position in shares of Blackline during the 2nd quarter worth approximately $40,000. Finally, NEXT Financial Group Inc raised its stake in shares of Blackline by 2,845.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,620 shares of the technology company’s stock worth $87,000 after buying an additional 1,565 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

BL has been the subject of a number of analyst reports. KeyCorp increased their target price on Blackline from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Goldman Sachs Group downgraded Blackline from a “buy” rating to a “sell” rating and cut their target price for the stock from $57.00 to $41.00 in a research note on Tuesday, July 2nd. ValuEngine downgraded Blackline from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded Blackline from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, BidaskClub downgraded Blackline from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Blackline presently has an average rating of “Hold” and a consensus target price of $53.00.

NASDAQ BL opened at $52.17 on Wednesday. Blackline Inc has a 1-year low of $34.01 and a 1-year high of $58.11. The stock has a market cap of $2.91 billion, a P/E ratio of -200.65 and a beta of 0.87. The company has a 50 day moving average price of $50.36. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, August 1st. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. Blackline had a negative return on equity of 4.05% and a negative net margin of 10.20%. The firm had revenue of $69.70 million during the quarter, compared to the consensus estimate of $67.74 million. During the same period last year, the business posted $0.01 EPS. Blackline’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Blackline Inc will post -0.27 earnings per share for the current year.

In other Blackline news, insider Morgan Karole Prager sold 10,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $54.76, for a total transaction of $547,600.00. Following the sale, the insider now owns 34,053 shares in the company, valued at approximately $1,864,742.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Partin sold 20,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $54.75, for a total value of $1,095,000.00. Following the sale, the chief financial officer now owns 75,140 shares in the company, valued at approximately $4,113,915. The disclosure for this sale can be found here. Insiders sold a total of 49,500 shares of company stock valued at $2,653,195 over the last ninety days. 15.77% of the stock is currently owned by company insiders.

Blackline 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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