GAM Holding AG Sells 1,026 Shares of Blackline Inc (BL)

GAM Holding AG lowered its position in shares of Blackline Inc (NYSE:BL) by 13.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,474 shares of the technology company’s stock after selling 1,026 shares during the period. GAM Holding AG’s holdings in Blackline were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BL. DF Dent & Co. Inc. increased its position in Blackline by 628.2% in the 1st quarter. DF Dent & Co. Inc. now owns 518,893 shares of the technology company’s stock valued at $15,442,000 after acquiring an additional 447,633 shares during the period. Columbia Wanger Asset Management LLC increased its position in Blackline by 154.0% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 677,394 shares of the technology company’s stock valued at $20,159,000 after acquiring an additional 410,712 shares during the period. Wells Fargo & Company MN boosted its holdings in Blackline by 346.5% in the 1st quarter. Wells Fargo & Company MN now owns 271,726 shares of the technology company’s stock valued at $8,086,000 after purchasing an additional 210,875 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Blackline by 32.0% in the 1st quarter. Vanguard Group Inc. now owns 773,211 shares of the technology company’s stock valued at $23,011,000 after purchasing an additional 187,286 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Blackline by 2,675.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 170,816 shares of the technology company’s stock valued at $6,105,000 after purchasing an additional 164,662 shares in the last quarter.

Shares of Blackline Inc (NYSE BL) opened at 33.88 on Friday. The firm’s market capitalization is $1.78 billion. The stock’s 50 day moving average price is $34.88 and its 200-day moving average price is $32.16. Blackline Inc has a 12-month low of $21.66 and a 12-month high of $36.53.

Blackline (NYSE:BL) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.12. The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $41.45 million. Blackline had a negative net margin of 23.91% and a negative return on equity of 13.96%. The firm’s revenue was up 45.9% compared to the same quarter last year. On average, equities analysts expect that Blackline Inc will post ($0.17) EPS for the current year.

Several brokerages have recently commented on BL. JMP Securities started coverage on Blackline in a research note on Monday, June 26th. They set a “market perform” rating on the stock. SunTrust Banks, Inc. started coverage on Blackline in a research note on Monday, June 26th. They issued a “buy” rating and a $43.00 target price on the stock. Zacks Investment Research lowered Blackline from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub raised Blackline from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, ValuEngine raised Blackline from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $34.78.

In other Blackline news, CEO Therese Tucker sold 20,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total transaction of $582,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mario Spanicciati sold 2,125 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $30.00, for a total transaction of $63,750.00. The disclosure for this sale can be found here. Insiders sold 151,750 shares of company stock worth $5,067,935 over the last three months.

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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.

Institutional Ownership by Quarter for Blackline (NYSE:BL)

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