Wells Fargo & Company MN boosted its holdings in Blackline Inc (NASDAQ:BL) by 61.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 859,886 shares of the technology company’s stock after buying an additional 328,004 shares during the period. Wells Fargo & Company MN owned approximately 1.64% of Blackline worth $29,339,000 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. Fortaleza Asset Management Inc. raised its stake in shares of Blackline by 98.2% during the third quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock valued at $212,000 after purchasing an additional 3,080 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in shares of Blackline during the third quarter valued at approximately $21,740,000. New York State Common Retirement Fund raised its stake in shares of Blackline by 483.5% during the third quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock valued at $2,628,000 after purchasing an additional 63,817 shares during the period. Rhumbline Advisers raised its stake in shares of Blackline by 20.3% during the third quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock valued at $520,000 after purchasing an additional 2,570 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Blackline by 28.4% during the third quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock valued at $1,870,000 after purchasing an additional 12,121 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.

In other news, Director William J.G. Griffith sold 1,415,519 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $34.07, for a total transaction of $48,226,732.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $34.07, for a total transaction of $90,275,210.86. The disclosure for this sale can be found here. Insiders have sold 4,644,375 shares of company stock valued at $158,358,885 in the last three months. Corporate insiders own 22.35% of the company’s stock.

Shares of Blackline Inc (BL) opened at $34.78 on Friday. Blackline Inc has a 1 year low of $24.14 and a 1 year high of $40.28.

Blackline (NASDAQ:BL) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. Blackline had a negative net margin of 29.53% and a negative return on equity of 8.00%. The business had revenue of $45.90 million during the quarter, compared to the consensus estimate of $44.07 million. During the same quarter last year, the company earned ($0.05) earnings per share. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. equities research analysts predict that Blackline Inc will post -0.42 earnings per share for the current year.

BL has been the topic of a number of analyst reports. BidaskClub upgraded shares of Blackline from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Robert W. Baird set a $42.00 price objective on shares of Blackline and gave the company a “buy” rating in a research note on Sunday, October 1st. KeyCorp reiterated a “buy” rating and set a $39.00 price objective on shares of Blackline in a research note on Friday, September 22nd. SunTrust Banks reiterated a “buy” rating and set a $42.00 price objective on shares of Blackline in a research note on Friday, November 3rd. Finally, JMP Securities upgraded shares of Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Blackline has an average rating of “Buy” and a consensus price target of $38.74.

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About Blackline

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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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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