Park Place Capital Corp Lowers Stake in BlackLine, Inc. (NASDAQ:BL)

Park Place Capital Corp reduced its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 33.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 576 shares of the technology company’s stock after selling 286 shares during the period. Park Place Capital Corp’s holdings in BlackLine were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its holdings in BlackLine by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 11,156 shares of the technology company’s stock worth $697,000 after buying an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of BlackLine by 4.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,257 shares of the technology company’s stock valued at $1,639,000 after acquiring an additional 1,150 shares in the last quarter. Wakefield Asset Management LLLP raised its position in shares of BlackLine by 11.2% during the 4th quarter. Wakefield Asset Management LLLP now owns 12,711 shares of the technology company’s stock worth $794,000 after purchasing an additional 1,276 shares during the period. Conestoga Capital Advisors LLC boosted its position in BlackLine by 3.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock valued at $88,342,000 after purchasing an additional 47,420 shares during the period. Finally, Strs Ohio increased its holdings in shares of BlackLine by 19.4% in the 4th quarter. Strs Ohio now owns 3,700 shares of the technology company’s stock worth $231,000 after acquiring an additional 600 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Stock Down 3.3 %

BL traded down $1.52 during mid-day trading on Monday, reaching $44.05. 573,262 shares of the stock were exchanged, compared to its average volume of 963,042. BlackLine, Inc. has a 1 year low of $43.46 and a 1 year high of $69.31. The stock has a market capitalization of $2.72 billion, a PE ratio of 190.83, a price-to-earnings-growth ratio of 5.32 and a beta of 0.86. The company has a 50 day moving average price of $47.17 and a two-hundred day moving average price of $55.87. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $157.46 million during the quarter, compared to the consensus estimate of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. As a group, research analysts anticipate that BlackLine, Inc. will post 1.1 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BL. Citigroup cut their price objective on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. BMO Capital Markets upped their price target on BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. JMP Securities restated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Monday, July 15th. Robert W. Baird boosted their price target on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, William Blair upgraded BlackLine to a “hold” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.78.

Insider Buying and Selling at BlackLine

In related news, CEO Owen Ryan acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $49.88 per share, with a total value of $149,640.00. Following the acquisition, the chief executive officer now owns 145,948 shares of the company’s stock, valued at approximately $7,279,886.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackLine news, CEO Owen Ryan acquired 3,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $49.88 per share, for a total transaction of $149,640.00. Following the completion of the transaction, the chief executive officer now owns 145,948 shares of the company’s stock, valued at approximately $7,279,886.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Partin sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total value of $2,369,000.00. Following the completion of the transaction, the chief financial officer now owns 229,341 shares in the company, valued at $10,866,176.58. The disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

BlackLine Profile

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.