Shares of Blackline Inc (NASDAQ:BL) hit a new 52-week high during trading on Tuesday . The stock traded as high as $41.01 and last traded at $39.04, with a volume of 1448400 shares trading hands. The stock had previously closed at $39.04.
Several analysts recently commented on BL shares. JPMorgan Chase & Co. lowered Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price target on the stock. in a research note on Thursday, January 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price target on shares of Blackline in a research note on Friday, November 3rd. Robert W. Baird reaffirmed a “buy” rating on shares of Blackline in a research note on Friday, February 16th. BidaskClub raised Blackline from a “sell” rating to a “hold” rating in a research note on Saturday, December 16th. Finally, JMP Securities raised Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Blackline has a consensus rating of “Buy” and an average target price of $37.95.
The stock has a market cap of $2,066.65, a P/E ratio of -55.07 and a beta of 1.99.
Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, February 15th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The company had revenue of $50.23 million for the quarter, compared to analyst estimates of $47.69 million. Blackline had a negative return on equity of 6.55% and a negative net margin of 21.50%. The business’s revenue was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. sell-side analysts anticipate that Blackline Inc will post -0.35 earnings per share for the current fiscal year.
In other Blackline news, CMO Mario Spanicciati sold 12,750 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $38.17, for a total value of $486,667.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $34.07, for a total value of $90,275,210.86. The disclosure for this sale can be found here. In the last three months, insiders sold 4,525,500 shares of company stock worth $154,259,010. Insiders own 22.35% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. DF Dent & Co. Inc. boosted its stake in Blackline by 21.3% in the third quarter. DF Dent & Co. Inc. now owns 2,270,403 shares of the technology company’s stock worth $77,466,000 after purchasing an additional 399,130 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Blackline by 27.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 810,030 shares of the technology company’s stock worth $26,569,000 after purchasing an additional 172,855 shares in the last quarter. Huntington National Bank acquired a new position in Blackline in the fourth quarter worth $1,237,000. Bank of New York Mellon Corp raised its position in shares of Blackline by 28.4% during the third quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after acquiring an additional 12,121 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Blackline by 136.4% during the third quarter. Ameriprise Financial Inc. now owns 204,938 shares of the technology company’s stock worth $6,992,000 after acquiring an additional 118,255 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.
Blackline Company Profile
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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