Cetera Investment Advisers Acquires 1,357 Shares of BlackLine, Inc. (NASDAQ:BL)

Cetera Investment Advisers lifted its stake in BlackLine, Inc. (NASDAQ:BL) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,701 shares of the technology company’s stock after acquiring an additional 1,357 shares during the quarter. Cetera Investment Advisers’ holdings in BlackLine were worth $1,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd increased its stake in shares of BlackLine by 346.5% during the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock worth $2,055,000 after purchasing an additional 24,713 shares during the last quarter. Comerica Bank boosted its stake in shares of BlackLine by 11.8% during the 1st quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock worth $8,025,000 after acquiring an additional 13,066 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of BlackLine during the 1st quarter worth approximately $2,000,000. Teachers Retirement System of The State of Kentucky bought a new stake in BlackLine in the 1st quarter valued at $907,000. Finally, Vanguard Group Inc. lifted its holdings in BlackLine by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after purchasing an additional 642,772 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BL shares. Citigroup reduced their price objective on BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, June 28th. BTIG Research lowered their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $70.00 in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.90.

Insider Buying and Selling

In other news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 115,424 shares of the company’s stock, valued at approximately $5,771,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Karole Morgan-Prager sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the transaction, the insider now owns 115,424 shares in the company, valued at approximately $5,771,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the completion of the sale, the director now directly owns 6,777 shares of the company’s stock, valued at $352,471.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,794 shares of company stock valued at $6,713,879 over the last quarter. Insiders own 9.93% of the company’s stock.

BlackLine Price Performance

BlackLine stock opened at $58.29 on Thursday. The stock has a 50-day moving average price of $51.55 and a two-hundred day moving average price of $52.17. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The company has a market capitalization of $3.60 billion, a PE ratio of 253.43, a P/E/G ratio of 13.57 and a beta of 0.90. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. BlackLine’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.69) earnings per share. Analysts expect that BlackLine, Inc. will post 0.96 EPS for the current year.

About BlackLine

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 individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.