Natixis Advisors L.P. acquired a new stake in Blackline Inc (NASDAQ:BL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,765 shares of the technology company’s stock, valued at approximately $441,000.

Other institutional investors also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group purchased a new stake in shares of Blackline in the 3rd quarter worth approximately $63,000. Parkside Financial Bank & Trust increased its stake in Blackline by 82.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,528 shares of the technology company’s stock valued at $63,000 after purchasing an additional 691 shares in the last quarter. Advisor Group Inc. increased its stake in Blackline by 86.8% during the 4th quarter. Advisor Group Inc. now owns 2,950 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,371 shares in the last quarter. We Are One Seven LLC acquired a new position in Blackline during the 4th quarter valued at approximately $131,000. Finally, Ibex Investors LLC acquired a new position in Blackline during the 3rd quarter valued at approximately $212,000. 85.72% of the stock is owned by institutional investors.

Shares of NASDAQ BL opened at $45.47 on Thursday. The stock has a market capitalization of $2.58 billion, a PE ratio of -174.88 and a beta of 1.05. Blackline Inc has a 52 week low of $34.01 and a 52 week high of $58.11.

Blackline (NASDAQ:BL) last issued its earnings results on Thursday, February 14th. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.12. Blackline had a negative net margin of 12.21% and a negative return on equity of 4.52%. The business had revenue of $62.32 million during the quarter, compared to analysts’ expectations of $61.65 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. Sell-side analysts anticipate that Blackline Inc will post -0.29 EPS for the current fiscal year.

In other Blackline news, Director Sumeru (Gp) L.L.C. Slta sold 3,983,873 shares of Blackline stock in a transaction dated Saturday, May 25th. The shares were sold at an average price of $48.16, for a total transaction of $191,863,323.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mario Spanicciati sold 400,000 shares of Blackline stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $48.16, for a total transaction of $19,264,000.00. Following the sale, the insider now owns 11,812 shares of the company’s stock, valued at $568,865.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,925,408 shares of company stock valued at $237,152,823. 18.60% of the stock is owned by company insiders.

Several analysts have recently commented on BL shares. Zacks Investment Research raised shares of Blackline from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, January 1st. BidaskClub raised shares of Blackline from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Goldman Sachs Group reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Blackline in a report on Friday, February 1st. KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Blackline in a report on Thursday, February 14th. Finally, Raymond James downgraded shares of Blackline from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.25.

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Blackline Company Profile

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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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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