Commonwealth Equity Services LLC Sells 479 Shares of BlackLine, Inc. (NASDAQ:BL)

Commonwealth Equity Services LLC decreased its position in BlackLine, Inc. (NASDAQ:BL) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,855 shares of the technology company’s stock after selling 479 shares during the quarter. Commonwealth Equity Services LLC’s holdings in BlackLine were worth $337,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in BlackLine by 1.3% during the second quarter. Vanguard Group Inc. now owns 5,000,139 shares of the technology company’s stock worth $556,366,000 after buying an additional 66,228 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in BlackLine by 0.6% during the second quarter. Artisan Partners Limited Partnership now owns 2,612,175 shares of the technology company’s stock worth $290,657,000 after buying an additional 15,780 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 0.8% during the third quarter. Conestoga Capital Advisors LLC now owns 1,382,962 shares of the technology company’s stock worth $163,272,000 after buying an additional 10,700 shares during the last quarter. FMR LLC boosted its holdings in BlackLine by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after buying an additional 361,839 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in BlackLine by 5.4% during the second quarter. Geode Capital Management LLC now owns 952,392 shares of the technology company’s stock worth $105,972,000 after buying an additional 48,672 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

BL has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on BlackLine from $155.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer raised their target price on BlackLine from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Zacks Investment Research raised BlackLine from a “sell” rating to a “hold” rating in a research report on Wednesday, November 3rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $149.00 price target on shares of BlackLine in a research report on Friday, November 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $139.89.

In other BlackLine news, insider Therese Tucker sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $110.51, for a total transaction of $1,105,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Partin sold 3,543 shares of the business’s stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $125.38, for a total value of $444,221.34. The disclosure for this sale can be found here. In the last three months, insiders sold 166,003 shares of company stock worth $20,301,753. 10.07% of the stock is owned by insiders.

NASDAQ BL opened at $88.96 on Friday. The firm has a market cap of $5.22 billion, a P/E ratio of -54.24 and a beta of 0.80. The company has a debt-to-equity ratio of 3.22, a current ratio of 5.08 and a quick ratio of 5.08. The stock’s 50-day moving average is $108.06 and its 200-day moving average is $113.96. BlackLine, Inc. has a one year low of $87.08 and a one year high of $154.61.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, November 4th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.13. BlackLine had a negative return on equity of 4.02% and a negative net margin of 23.43%. The business had revenue of $109.40 million for the quarter, compared to analyst estimates of $107.06 million. During the same quarter last year, the firm earned $0.02 EPS. BlackLine’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that BlackLine, Inc. will post -0.45 EPS for the current year.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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