Blackline Inc (BL) Shares Bought by Voya Investment Management LLC
Voya Investment Management LLC boosted its holdings in Blackline Inc (NASDAQ:BL) by 7,483.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 798,600 shares of the technology company’s stock after buying an additional 788,069 shares during the period. Voya Investment Management LLC’s holdings in Blackline were worth $34,683,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BL. Alkeon Capital Management LLC acquired a new stake in Blackline in the 1st quarter worth about $27,447,000. Fred Alger Management Inc. acquired a new position in shares of Blackline in the 2nd quarter valued at about $30,153,000. Thrivent Financial for Lutherans acquired a new position in shares of Blackline in the 1st quarter valued at about $24,340,000. OppenheimerFunds Inc. lifted its stake in shares of Blackline by 134.5% in the 1st quarter. OppenheimerFunds Inc. now owns 1,035,291 shares of the technology company’s stock valued at $40,595,000 after purchasing an additional 593,754 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Blackline by 46.6% in the 1st quarter. BlackRock Inc. now owns 1,802,859 shares of the technology company’s stock valued at $70,690,000 after purchasing an additional 572,862 shares in the last quarter. 82.90% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on BL. BidaskClub downgraded Blackline from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research downgraded Blackline from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.80.
Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Blackline had a negative return on equity of 7.59% and a negative net margin of 17.03%. The company had revenue of $55.45 million for the quarter, compared to the consensus estimate of $53.66 million. During the same period in the previous year, the business earned ($0.03) EPS. Blackline’s revenue for the quarter was up 32.1% compared to the same quarter last year. equities analysts anticipate 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 Blackline stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $49.05, for a total value of $735,750.00. Following the completion of the transaction, the executive now owns 33,872 shares in the company, valued at approximately $1,661,421.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Therese Tucker sold 100,000 shares of Blackline stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $47.72, for a total value of $4,772,000.00. Following the completion of the transaction, the chief executive officer now owns 63,672 shares of the company’s stock, valued at approximately $3,038,427.84. The disclosure for this sale can be found here. Insiders have sold a total of 311,829 shares of company stock worth $14,881,033 over the last 90 days. 18.60% of the stock is owned by company insiders.
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.
Featured Article: Short Selling – Explanation For Shorting Stocks
Want to see what other hedge funds are holding BL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackline Inc (NASDAQ:BL).
Receive News & Ratings for Blackline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline and related companies with MarketBeat.com's FREE daily email newsletter.