Citadel Advisors LLC Has $354,000 Holdings in Blackline Inc (BL)
Citadel Advisors LLC lowered its stake in Blackline Inc (NASDAQ:BL) by 93.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,388 shares of the technology company’s stock after selling 154,530 shares during the period. Citadel Advisors LLC’s holdings in Blackline were worth $354,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Blackline by 20.3% during the 3rd quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock worth $520,000 after purchasing an additional 2,570 shares during the last quarter. Fortaleza Asset Management Inc. lifted its position in shares of Blackline by 98.2% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock worth $212,000 after purchasing an additional 3,080 shares during the last quarter. American International Group Inc. lifted its position in shares of Blackline by 53.5% during the 3rd quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after purchasing an additional 3,646 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Blackline by 28.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after purchasing an additional 12,121 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Blackline by 483.5% during the 3rd quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock worth $2,628,000 after purchasing an additional 63,817 shares during the last quarter. 79.28% of the stock is owned by institutional investors.
Shares of Blackline Inc (NASDAQ:BL) opened at $34.90 on Thursday. Blackline Inc has a 12 month low of $24.14 and a 12 month high of $40.28.
Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.18. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $44.07 million. Blackline had a negative return on equity of 8.00% and a negative net margin of 29.53%. The company’s revenue was up 42.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. analysts forecast that Blackline Inc will post -0.42 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. BidaskClub cut Blackline from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Robert W. Baird set a $42.00 price objective on Blackline and gave the stock a “buy” rating in a research report on Sunday, October 1st. KeyCorp reissued a “buy” rating and set a $39.00 price objective on shares of Blackline in a research report on Friday, September 22nd. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price target on shares of Blackline in a report on Friday, November 3rd. Finally, JMP Securities raised Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $38.74.
In other Blackline news, Director William J.G. Griffith sold 1,415,519 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $34.07, for a total value of $48,226,732.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Mario Spanicciati sold 12,750 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $38.17, for a total value of $486,667.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,644,375 shares of company stock worth $158,358,885. 22.35% of the stock is owned by corporate insiders.
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Blackline Company Profile
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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