Blackline Inc (NASDAQ:BL) major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $34.07, for a total transaction of $90,275,210.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Blackline Inc (BL) opened at $34.67 on Monday. Blackline Inc has a fifty-two week low of $24.14 and a fifty-two week high of $40.28.
Blackline (NASDAQ:BL) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.18. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $44.07 million. Blackline had a negative return on equity of 8.00% and a negative net margin of 29.53%. Blackline’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. equities research analysts anticipate that Blackline Inc will post -0.42 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC purchased a new position in shares of Blackline during the 3rd quarter valued at approximately $21,740,000. Artisan Partners Limited Partnership acquired a new stake in shares of Blackline during the 3rd quarter valued at approximately $11,316,000. Grandeur Peak Global Advisors LLC acquired a new stake in shares of Blackline during the 3rd quarter valued at approximately $2,710,000. Pier Capital LLC acquired a new stake in shares of Blackline during the 3rd quarter valued at approximately $5,359,000. Finally, Brown Advisory Inc. raised its position in shares of Blackline by 493.9% during the 3rd quarter. Brown Advisory Inc. now owns 336,450 shares of the technology company’s stock valued at $11,479,000 after acquiring an additional 279,798 shares in the last quarter. Institutional investors own 79.28% of the company’s stock.
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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