Kennedy Capital Management Inc. Decreases Holdings in Blackline Inc (NASDAQ:BL)

Kennedy Capital Management Inc. trimmed its position in shares of Blackline Inc (NASDAQ:BL) by 48.3% during the first quarter, HoldingsChannel reports. The firm owned 41,662 shares of the technology company’s stock after selling 38,922 shares during the quarter. Kennedy Capital Management Inc.’s holdings in Blackline were worth $1,930,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. FTB Advisors Inc. lifted its stake in Blackline by 70.6% during the first quarter. FTB Advisors Inc. now owns 551 shares of the technology company’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Blackline during the first quarter worth $34,000. Bronfman E.L. Rothschild L.P. lifted its stake in Blackline by 73.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,156 shares of the technology company’s stock worth $47,000 after purchasing an additional 488 shares in the last quarter. Advisor Group Inc. increased its position in shares of Blackline by 86.8% during the fourth quarter. Advisor Group Inc. now owns 2,950 shares of the technology company’s stock worth $121,000 after acquiring an additional 1,371 shares during the period. Finally, BB&T Corp purchased a new stake in shares of Blackline during the first quarter worth $201,000. Institutional investors own 86.08% of the company’s stock.

BL has been the topic of a number of recent research reports. Zacks Investment Research raised Blackline from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, April 16th. BidaskClub lowered Blackline from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Blackline has a consensus rating of “Buy” and an average target price of $54.50.

Blackline stock opened at $48.96 on Friday. Blackline Inc has a twelve month low of $34.01 and a twelve month high of $58.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $2.70 billion, a PE ratio of -188.31 and a beta of 0.95.

Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.14. Blackline had a negative return on equity of 5.02% and a negative net margin of 12.15%. The business had revenue of $64.13 million for the quarter, compared to analyst estimates of $63.33 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The company’s revenue was up 25.1% on a year-over-year basis. Analysts predict that Blackline Inc will post -0.29 EPS for the current year.

In other news, CFO Mark Partin sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 15.77% of the stock is currently owned by corporate insiders.

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Blackline Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

See Also: Outstanding Shares

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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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