Squar Milner Financial Services LLC Boosts Stock Position in Blackline Inc (NASDAQ:BL)

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Squar Milner Financial Services LLC boosted its holdings in shares of Blackline Inc (NASDAQ:BL) by 242.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,688 shares of the technology company’s stock after purchasing an additional 1,904 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Blackline were worth $138,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Carroll Financial Associates Inc. increased its holdings in Blackline by 414.2% during the 4th quarter. Carroll Financial Associates Inc. now owns 977 shares of the technology company’s stock worth $50,000 after purchasing an additional 787 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Blackline by 3,971.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,140 shares of the technology company’s stock worth $61,000 after purchasing an additional 1,112 shares during the last quarter. FTB Advisors Inc. increased its holdings in shares of Blackline by 64.4% in the 3rd quarter. FTB Advisors Inc. now owns 1,498 shares of the technology company’s stock valued at $71,000 after acquiring an additional 587 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Blackline by 49.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,677 shares of the technology company’s stock valued at $90,000 after acquiring an additional 554 shares during the last quarter. Finally, NEXT Financial Group Inc increased its holdings in shares of Blackline by 16.9% in the 3rd quarter. NEXT Financial Group Inc now owns 1,894 shares of the technology company’s stock valued at $91,000 after acquiring an additional 274 shares during the last quarter. Institutional investors own 91.18% of the company’s stock.

In related news, insider Morgan Karole Prager sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.00, for a total transaction of $227,150.00. Following the completion of the transaction, the insider now owns 27,288 shares in the company, valued at approximately $1,500,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Partin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $60.03, for a total value of $1,200,600.00. Following the transaction, the chief financial officer now owns 73,449 shares of the company’s stock, valued at approximately $4,409,143.47. The disclosure for this sale can be found here. Insiders have sold a total of 140,811 shares of company stock valued at $7,860,972 in the last 90 days. Insiders own 15.77% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. TheStreet upgraded Blackline from a “d+” rating to a “c” rating in a report on Monday, October 28th. ValuEngine downgraded Blackline from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Oppenheimer upgraded Blackline from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, January 17th. BidaskClub upgraded Blackline from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 18th. Finally, First Analysis assumed coverage on Blackline in a report on Friday, October 4th. They issued an “outperform” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $57.50.

Shares of NASDAQ BL opened at $61.39 on Thursday. Blackline Inc has a twelve month low of $42.23 and a twelve month high of $65.32. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -109.62 and a beta of 0.78. The business has a 50 day simple moving average of $53.98 and a 200-day simple moving average of $50.73.

Blackline (NASDAQ:BL) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.09. Blackline had a negative return on equity of 4.36% and a negative net margin of 11.36%. The business had revenue of $74.93 million during the quarter, compared to the consensus estimate of $72.33 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Blackline Inc will post -0.21 earnings per share for the current year.

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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