Artisan Partners Limited Partnership grew its position in Blackline Inc (NASDAQ:BL) by 36.7% during the 2nd quarter, Holdings Channel reports. The firm owned 1,140,378 shares of the technology company’s stock after purchasing an additional 306,087 shares during the period. Artisan Partners Limited Partnership’s holdings in Blackline were worth $49,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BL. Financial Architects Inc acquired a new stake in Blackline during the second quarter worth approximately $102,000. Great West Life Assurance Co. Can grew its position in Blackline by 129.4% during the second quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock worth $139,000 after buying an additional 1,811 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Blackline during the second quarter worth approximately $206,000. Amalgamated Bank acquired a new stake in Blackline during the second quarter worth approximately $214,000. Finally, Legal & General Group Plc grew its position in Blackline by 47.8% during the first quarter. Legal & General Group Plc now owns 5,500 shares of the technology company’s stock worth $215,000 after buying an additional 1,779 shares in the last quarter. 82.90% of the stock is currently owned by institutional investors.

In other news, CEO Therese Tucker sold 24,308 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $47.17, for a total value of $1,146,608.36. Following the completion of the transaction, the chief executive officer now directly owns 63,672 shares in the company, valued at approximately $3,003,408.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Chris Murphy sold 15,000 shares of the stock in a transaction on Monday, June 4th. The shares were sold at an average price of $43.01, for a total value of $645,150.00. Following the completion of the transaction, the executive now owns 33,872 shares of the company’s stock, valued at $1,456,834.72. The disclosure for this sale can be found here. Insiders sold a total of 341,829 shares of company stock valued at $16,184,833 over the last quarter. 18.60% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on BL shares. Zacks Investment Research downgraded Blackline from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Blackline in a report on Thursday, May 3rd. Finally, BidaskClub downgraded Blackline from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Blackline has a consensus rating of “Hold” and an average price target of $41.80.

Shares of BL stock opened at $52.41 on Friday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -141.62 and a beta of -0.57. Blackline Inc has a fifty-two week low of $29.14 and a fifty-two week high of $53.76.

Blackline (NASDAQ:BL) last announced its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Blackline had a negative return on equity of 7.59% and a negative net margin of 17.03%. The company had revenue of $55.45 million during the quarter, compared to analysts’ expectations of $53.66 million. During the same period in the prior year, the company earned ($0.03) EPS. Blackline’s revenue was up 32.1% compared to the same quarter last year. equities research analysts expect that Blackline Inc will post -0.31 earnings per share for the current year.

Blackline Profile

BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.

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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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