Blackline Inc (NASDAQ:BL) has been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $50.67.

A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research report on Friday. Goldman Sachs Group cut shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and raised their target price for the company from $9.20 to $9.30 in a research note on Tuesday, July 2nd. Finally, BidaskClub cut shares of YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd.

In other news, CFO Mark Partin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 29,500 shares of company stock worth $1,510,695. Insiders own 15.77% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BL. Kayne Anderson Rudnick Investment Management LLC boosted its position in Blackline by 168.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,936,270 shares of the technology company’s stock valued at $182,328,000 after acquiring an additional 2,468,448 shares in the last quarter. Riverbridge Partners LLC grew its position in Blackline by 33.7% during the 2nd quarter. Riverbridge Partners LLC now owns 1,906,518 shares of the technology company’s stock worth $102,018,000 after purchasing an additional 481,071 shares during the period. Champlain Investment Partners LLC grew its position in Blackline by 29.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,634,940 shares of the technology company’s stock worth $75,730,000 after purchasing an additional 375,040 shares during the period. Artisan Partners Limited Partnership grew its position in Blackline by 0.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,325,337 shares of the technology company’s stock worth $61,390,000 after purchasing an additional 11,005 shares during the period. Finally, FMR LLC grew its position in shares of Blackline by 47.1% during the 1st quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock valued at $52,372,000 after acquiring an additional 361,839 shares during the period. 87.39% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:BL traded up $0.03 during trading hours on Tuesday, hitting $45.66. 15,836 shares of the company traded hands, compared to its average volume of 424,422. The company has a market capitalization of $2.60 billion, a PE ratio of -176.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50-day moving average price is $50.27. Blackline has a twelve month low of $34.01 and a twelve month high of $58.11.

Blackline (NASDAQ:BL) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. The business had revenue of $64.13 million for the quarter, compared to analyst estimates of $63.33 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, analysts expect that Blackline will post -0.29 EPS for the current year.

About Blackline

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

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Analyst Recommendations for Blackline (NASDAQ:BL)

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