RGM Capital LLC lifted its stake in Blackline Inc (NASDAQ:BL) by 1.0% in the second quarter, HoldingsChannel.com reports. The firm owned 507,988 shares of the technology company’s stock after buying an additional 5,000 shares during the period. Blackline comprises about 2.0% of RGM Capital LLC’s holdings, making the stock its 19th biggest position. RGM Capital LLC’s holdings in Blackline were worth $22,062,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Glen Harbor Capital Management LLC boosted its holdings in Blackline by 6.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 34,916 shares of the technology company’s stock valued at $1,516,000 after acquiring an additional 2,100 shares during the period. OppenheimerFunds Inc. boosted its holdings in Blackline by 16.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,203,196 shares of the technology company’s stock valued at $52,254,000 after acquiring an additional 167,905 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Blackline during the 2nd quarter valued at $4,219,000. Sandhill Capital Partners LLC purchased a new position in Blackline during the 2nd quarter valued at $8,579,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Blackline by 28.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,160 shares of the technology company’s stock valued at $745,000 after acquiring an additional 3,842 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.
A number of equities research analysts have weighed in on BL shares. BidaskClub raised Blackline from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Zacks Investment Research lowered Blackline from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Blackline presently has an average rating of “Hold” and a consensus target price of $41.80.
Shares of BL traded down $1.21 during trading hours on Wednesday, hitting $52.05. The company had a trading volume of 24,114 shares, compared to its average volume of 443,054. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -140.68 and a beta of -0.24. Blackline Inc has a one year low of $30.00 and a one year high of $53.76.
Blackline (NASDAQ:BL) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $55.45 million during the quarter, compared to analyst estimates of $53.66 million. Blackline had a negative return on equity of 7.59% and a negative net margin of 17.03%. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. research analysts forecast that Blackline Inc will post -0.32 earnings per share for the current fiscal year.
In other news, CRO Chris Murphy sold 15,000 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $43.91, for a total value of $658,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Therese Tucker sold 24,308 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $47.17, for a total value of $1,146,608.36. Following the completion of the transaction, the chief executive officer now directly owns 63,672 shares of the company’s stock, valued at $3,003,408.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 326,829 shares of company stock valued at $15,539,683. Corporate insiders own 18.60% of the company’s stock.
BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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