BlackLine, Inc. (NASDAQ:BL) major shareholder Iconiq Strategic Partners, L.P sold 2,000,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $40.75, for a total transaction of $81,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of BlackLine stock opened at $40.02 on Thursday. The company has a market cap of $2,042.32, a price-to-earnings ratio of -54.08 and a beta of -1.51. BlackLine, Inc. has a 12 month low of $28.21 and a 12 month high of $45.19.
BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $47.69 million. BlackLine had a negative net margin of 21.50% and a negative return on equity of 6.53%. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) earnings per share. equities research analysts expect that BlackLine, Inc. will post -0.28 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of BL. New York State Common Retirement Fund lifted its stake in shares of BlackLine by 483.5% during the 3rd quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock worth $2,628,000 after buying an additional 63,817 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of BlackLine by 20.3% during the 3rd quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock worth $520,000 after buying an additional 2,570 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of BlackLine by 28.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after buying an additional 12,121 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of BlackLine by 136.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 204,938 shares of the technology company’s stock worth $6,992,000 after buying an additional 118,255 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of BlackLine by 53.5% during the 3rd quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after buying an additional 3,646 shares during the last quarter. Institutional investors own 79.54% of the company’s stock.
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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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