California Public Employees Retirement System Has $5.18 Million Holdings in Blackline Inc (NASDAQ:BL)

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California Public Employees Retirement System raised its position in Blackline Inc (NASDAQ:BL) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,391 shares of the technology company’s stock after buying an additional 11,570 shares during the period. California Public Employees Retirement System’s holdings in Blackline were worth $5,176,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC boosted its position in Blackline by 661.2% in the third quarter. Squar Milner Financial Services LLC now owns 784 shares of the technology company’s stock valued at $37,000 after buying an additional 681 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Blackline by 414.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 977 shares of the technology company’s stock worth $50,000 after purchasing an additional 787 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of Blackline by 64.4% during the third quarter. FTB Advisors Inc. now owns 1,498 shares of the technology company’s stock worth $71,000 after purchasing an additional 587 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Blackline by 16.9% during the third quarter. NEXT Financial Group Inc now owns 1,894 shares of the technology company’s stock worth $91,000 after purchasing an additional 274 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Blackline by 14.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the technology company’s stock worth $139,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 91.33% of the company’s stock.

In related news, CFO Mark Partin sold 20,000 shares of the 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 directly owns 73,449 shares in the company, valued at $4,409,143.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Marc Huffman sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $52.60, for a total transaction of $263,000.00. Following the completion of the transaction, the chief operating officer now owns 199,419 shares in the company, valued at $10,489,439.40. The disclosure for this sale can be found here. Insiders sold 140,811 shares of company stock worth $7,860,972 over the last 90 days. 15.77% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on BL. Piper Jaffray Companies began coverage on shares of Blackline in a research report on Monday, November 25th. They set a “neutral” rating and a $60.00 target price on the stock. Oppenheimer reiterated a “buy” rating and set a $79.00 target price on shares of Blackline in a research report on Friday. JMP Securities upped their target price on shares of Blackline from $60.00 to $69.00 and gave the stock a “positive” rating in a research report on Tuesday. Piper Sandler upgraded shares of Blackline from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $78.00 in a research report on Friday. Finally, TheStreet upgraded shares of Blackline from a “d+” rating to a “c” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.00.

Shares of BL stock opened at $66.55 on Friday. Blackline Inc has a 1 year low of $42.23 and a 1 year high of $74.44. The firm’s 50 day moving average is $58.55 and its 200-day moving average is $52.19. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.99.

Blackline (NASDAQ:BL) last announced its earnings results on Thursday, February 13th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.19. Blackline had a negative net margin of 11.15% and a negative return on equity of 3.38%. The company had revenue of $80.26 million for the quarter, compared to analyst estimates of $77.77 million. Equities research analysts anticipate that Blackline Inc will post -0.25 earnings per share for the current fiscal year.

About Blackline

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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