Princeton Capital Management LLC bought a new stake in shares of Blackline Inc (NASDAQ:BL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,420 shares of the technology company’s stock, valued at approximately $250,000.

Several other institutional investors have also modified their holdings of BL. Rhumbline Advisers boosted its stake in Blackline by 21.0% in the 2nd quarter. Rhumbline Advisers now owns 31,127 shares of the technology company’s stock worth $1,352,000 after purchasing an additional 5,403 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Blackline by 16.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 189,417 shares of the technology company’s stock worth $8,227,000 after purchasing an additional 26,504 shares during the period. Great West Life Assurance Co. Can boosted its stake in Blackline by 129.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock worth $139,000 after purchasing an additional 1,811 shares during the period. BlackRock Inc. boosted its stake in Blackline by 28.3% in the 2nd quarter. BlackRock Inc. now owns 2,313,609 shares of the technology company’s stock worth $100,480,000 after purchasing an additional 510,750 shares during the period. Finally, Barton Investment Management boosted its stake in Blackline by 12.5% in the 3rd quarter. Barton Investment Management now owns 506,840 shares of the technology company’s stock worth $28,621,000 after purchasing an additional 56,200 shares during the period. Institutional investors own 83.76% of the company’s stock.

In other news, CEO Therese Tucker sold 24,308 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $47.17, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.60% of the company’s stock.

BL has been the subject of a number of research analyst reports. BidaskClub raised shares of Blackline from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised shares of Blackline from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. CIBC initiated coverage on shares of Blackline in a research note on Friday, October 19th. They issued a “market perform” rating for the company. Oppenheimer initiated coverage on shares of Blackline in a research note on Friday, October 19th. They issued a “market perform” rating for the company. Finally, Robert W. Baird reduced their target price on shares of Blackline from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.00.

Shares of Blackline stock traded up $0.02 during trading hours on Thursday, reaching $38.82. 30,350 shares of the company’s stock were exchanged, compared to its average volume of 463,144. Blackline Inc has a fifty-two week low of $31.53 and a fifty-two week high of $58.11. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -104.92 and a beta of 1.01.

Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.15. Blackline had a negative net margin of 12.02% and a negative return on equity of 3.58%. The company had revenue of $58.70 million during the quarter, compared to the consensus estimate of $57.64 million. During the same period in the prior year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 29.3% on a year-over-year basis. Analysts expect that Blackline Inc will post -0.27 earnings per share for the current year.

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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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