Barton Investment Management Boosts Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Barton Investment Management lifted its stake in BlackLine, Inc. (NASDAQ:BLGet Rating) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 615,677 shares of the technology company’s stock after purchasing an additional 300 shares during the period. BlackLine comprises about 8.3% of Barton Investment Management’s investment portfolio, making the stock its 4th largest position. Barton Investment Management owned 1.04% of BlackLine worth $41,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Malaga Cove Capital LLC grew its holdings in BlackLine by 2.1% during the 1st quarter. Malaga Cove Capital LLC now owns 7,317 shares of the technology company’s stock worth $536,000 after acquiring an additional 150 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of BlackLine by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 23,544 shares of the technology company’s stock valued at $1,724,000 after purchasing an additional 176 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of BlackLine by 6.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,176 shares of the technology company’s stock valued at $329,000 after purchasing an additional 180 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in BlackLine by 13.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,878 shares of the technology company’s stock worth $138,000 after buying an additional 219 shares during the period. Finally, San Luis Wealth Advisors LLC acquired a new position in BlackLine in the 1st quarter worth approximately $25,000.

BlackLine Trading Down 4.7 %

BL traded down $2.84 on Friday, hitting $57.60. The company had a trading volume of 15,618 shares, compared to its average volume of 435,058. The firm has a market cap of $3.43 billion, a P/E ratio of -47.71 and a beta of 0.80. BlackLine, Inc. has a 1 year low of $49.66 and a 1 year high of $135.00. The company’s fifty day moving average price is $67.35 and its 200 day moving average price is $68.76. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 17.46.

BlackLine (NASDAQ:BLGet Rating) last released its earnings results on Thursday, August 4th. The technology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). The firm had revenue of $128.48 million during the quarter, compared to analyst estimates of $126.54 million. BlackLine had a negative net margin of 15.09% and a negative return on equity of 22.04%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, equities analysts expect that BlackLine, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

BL has been the topic of a number of analyst reports. StockNews.com cut shares of BlackLine from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Credit Suisse Group initiated coverage on shares of BlackLine in a research note on Friday. They set a “neutral” rating and a $75.00 price objective on the stock. Citigroup assumed coverage on shares of BlackLine in a research note on Thursday, September 1st. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Bank of America cut shares of BlackLine from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $75.00 to $64.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.80.

Insider Transactions at BlackLine

In other BlackLine news, CTO Peter Hirsch sold 1,997 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $69.91, for a total value of $139,610.27. Following the completion of the sale, the chief technology officer now owns 34,427 shares in the company, valued at $2,406,791.57. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CTO Peter Hirsch sold 1,997 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $69.91, for a total transaction of $139,610.27. Following the completion of the sale, the chief technology officer now owns 34,427 shares in the company, valued at $2,406,791.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Unterman sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $62.42, for a total value of $31,210.00. Following the sale, the director now owns 50,589 shares of the company’s stock, valued at approximately $3,157,765.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,997 shares of company stock valued at $204,000. 9.71% of the stock is currently owned by corporate insiders.

BlackLine Profile

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BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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