90,795 Shares in Blackline Inc (NYSE:BL) Acquired by Renaissance Technologies LLC
Renaissance Technologies LLC acquired a new position in Blackline Inc (NYSE:BL) during the first quarter, Holdings Channel reports. The firm acquired 90,795 shares of the technology company’s stock, valued at approximately $2,702,000.
Several other institutional investors have also added to or reduced their stakes in BL. Nationwide Fund Advisors raised its position in Blackline by 26.7% in the first quarter. Nationwide Fund Advisors now owns 5,776 shares of the technology company’s stock worth $172,000 after buying an additional 1,217 shares during the period. American International Group Inc. acquired a new position in Blackline during the first quarter worth $173,000. Teachers Advisors LLC acquired a new position in Blackline during the fourth quarter worth $310,000. Metropolitan Life Insurance Co. NY acquired a new position in Blackline during the fourth quarter worth $323,000. Finally, Citadel Advisors LLC acquired a new position in Blackline during the first quarter worth $481,000.
Blackline Inc (NYSE BL) traded down 0.07% during midday trading on Monday, hitting $29.86. The company had a trading volume of 34,178 shares. Blackline Inc has a 1-year low of $21.66 and a 1-year high of $40.28. The firm’s market capitalization is $1.55 billion. The company has a 50 day moving average price of $36.22 and a 200 day moving average price of $32.08.
Blackline (NYSE:BL) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. Blackline had a negative return on equity of 13.96% and a negative net margin of 23.91%. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $41.45 million. The business’s quarterly revenue was up 45.9% compared to the same quarter last year. Equities research analysts forecast that Blackline Inc will post ($0.17) earnings per share for the current fiscal year.
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A number of equities analysts have recently weighed in on BL shares. SunTrust Banks, Inc. started coverage on Blackline in a research note on Monday, June 26th. They issued a “buy” rating and a $43.00 price objective for the company. Zacks Investment Research raised Blackline from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, August 9th. Vetr lowered Blackline from a “strong-buy” rating to a “buy” rating and set a $35.26 price objective for the company. in a research note on Tuesday, April 18th. ValuEngine raised Blackline from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, JMP Securities started coverage on Blackline in a research note on Monday, June 26th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Blackline currently has a consensus rating of “Buy” and an average price target of $34.78.
In other news, insider Mario Spanicciati sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $33.98, for a total transaction of $849,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 188,625 shares of company stock worth $6,561,144 in the last ninety days.
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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