Wells Fargo & Company MN raised its holdings in shares of Blackline Inc (NASDAQ:BL) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,001,067 shares of the technology company’s stock after buying an additional 139,885 shares during the period. Wells Fargo & Company MN owned about 1.87% of Blackline worth $43,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC acquired a new position in shares of Blackline during the 4th quarter valued at about $567,000. Goldman Sachs Group Inc. increased its stake in shares of Blackline by 37.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 39,355 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 10,811 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Blackline by 27.0% during the 4th quarter. Teachers Advisors LLC now owns 28,549 shares of the technology company’s stock valued at $936,000 after acquiring an additional 6,071 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Blackline during the 4th quarter valued at about $175,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Blackline during the 4th quarter valued at about $248,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

A number of research firms have recently commented on BL. BidaskClub downgraded shares of Blackline from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. KeyCorp reaffirmed a “buy” rating and set a $52.00 price objective on shares of Blackline in a research note on Thursday, May 3rd. Zacks Investment Research raised shares of Blackline from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday, May 9th. Finally, ValuEngine raised shares of Blackline from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.80.

In other Blackline news, insider Morgan Karole Prager sold 20,565 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $48.91, for a total value of $1,005,834.15. Following the completion of the transaction, the insider now owns 34,157 shares in the company, valued at approximately $1,670,618.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Therese Tucker sold 17,010 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $47.59, for a total value of $809,505.90. Following the completion of the transaction, the chief executive officer now owns 63,672 shares of the company’s stock, valued at approximately $3,030,150.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,831,885 shares of company stock valued at $155,698,557. 18.60% of the stock is owned by company insiders.

BL opened at $46.56 on Friday. The company has a market cap of $2.57 billion, a P/E ratio of -125.84 and a beta of -0.57. Blackline Inc has a 1 year low of $28.91 and a 1 year high of $50.31.

Blackline (NASDAQ:BL) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $55.45 million during the quarter, compared to the consensus estimate of $53.66 million. Blackline had a negative net margin of 17.03% and a negative return on equity of 7.59%. The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. analysts expect that Blackline Inc will post -0.31 earnings per share for the current year.

Blackline 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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