Chicago Equity Partners LLC Buys New Position in Blackline Inc (BL)

Chicago Equity Partners LLC bought a new stake in Blackline Inc (NASDAQ:BL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,810 shares of the technology company’s stock, valued at approximately $814,000.

A number of other institutional investors have also added to or reduced their stakes in BL. Fortaleza Asset Management Inc. increased its stake in Blackline by 98.2% during the third quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,080 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Blackline during the third quarter worth about $246,000. First Republic Investment Management Inc. acquired a new stake in Blackline during the third quarter worth about $257,000. PEAK6 Investments L.P. acquired a new stake in Blackline during the third quarter worth about $267,000. Finally, American International Group Inc. increased its stake in Blackline by 53.5% during the third quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after acquiring an additional 3,646 shares during the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.

In other news, insider Mario Spanicciati sold 12,750 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $35.45, for a total value of $451,987.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Therese Tucker sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $35.31, for a total value of $70,620.00. The disclosure for this sale can be found here. Insiders sold 4,553,000 shares of company stock valued at $155,250,690 in the last ninety days. Company insiders own 22.35% of the company’s stock.

Shares of Blackline Inc (BL) opened at $32.57 on Friday. Blackline Inc has a 1 year low of $26.72 and a 1 year high of $40.28. The firm has a market capitalization of $1,720.00 and a PE ratio of -34.28.

Several equities research analysts have commented on the company. BidaskClub upgraded Blackline from a “strong sell” rating to a “sell” rating in a research note on Wednesday. KeyCorp restated a “buy” rating and set a $39.00 price target on shares of Blackline in a research note on Sunday, October 22nd. SunTrust Banks restated a “buy” rating and set a $42.00 price target on shares of Blackline in a research note on Friday, November 3rd. JPMorgan Chase & Co. lowered Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price target for the company. in a research note on Thursday, January 25th. Finally, JMP Securities upgraded Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Blackline presently has a consensus rating of “Buy” and an average target price of $36.78.

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Blackline Company Profile

BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.

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Institutional Ownership by Quarter for Blackline (NASDAQ:BL)

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