Lazard Asset Management LLC cut its position in BlackLine, Inc. (NASDAQ:BL – Get Rating) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,292 shares of the technology company’s stock after selling 25,996,708 shares during the period. Lazard Asset Management LLC’s holdings in BlackLine were worth $340,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in BlackLine in the fourth quarter worth $64,000. Lindbrook Capital LLC acquired a new stake in shares of BlackLine during the fourth quarter worth $70,000. CWM LLC acquired a new stake in shares of BlackLine during the fourth quarter worth $124,000. FourThought Financial LLC raised its holdings in shares of BlackLine by 1,045.6% during the third quarter. FourThought Financial LLC now owns 1,306 shares of the technology company’s stock worth $154,000 after acquiring an additional 1,192 shares during the period. Finally, National Bank of Canada FI acquired a new stake in shares of BlackLine during the fourth quarter worth $166,000.
A number of equities research analysts recently commented on the stock. JMP Securities dropped their price objective on shares of BlackLine from $145.00 to $112.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 20th. BTIG Research dropped their price objective on shares of BlackLine from $115.00 to $95.00 in a report on Friday, May 6th. Zacks Investment Research upgraded shares of BlackLine from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday. Robert W. Baird dropped their price objective on shares of BlackLine from $105.00 to $95.00 in a report on Friday, May 6th. Finally, StockNews.com raised shares of BlackLine from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $96.22.
BlackLine (NASDAQ:BL – Get Rating) last released its earnings results on Thursday, May 5th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. BlackLine had a negative net margin of 19.28% and a negative return on equity of 12.37%. The business had revenue of $120.24 million during the quarter, compared to the consensus estimate of $119.57 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, equities analysts expect that BlackLine, Inc. will post -0.86 earnings per share for the current fiscal year.
In related news, Director Thomas Unterman sold 500 shares of BlackLine stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $66.82, for a total transaction of $33,410.00. Following the completion of the sale, the director now owns 45,801 shares of the company’s stock, valued at approximately $3,060,422.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Peter Hirsch sold 3,427 shares of BlackLine stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $71.13, for a total transaction of $243,762.51. The disclosure for this sale can be found here. In the last three months, insiders sold 4,927 shares of company stock valued at $349,413. Insiders own 9.71% of the company’s stock.
BlackLine Profile (Get Rating)
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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