TimesSquare Capital Management LLC increased its holdings in shares of Blackline Inc (NASDAQ:BL) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 896,725 shares of the technology company’s stock after buying an additional 120,895 shares during the period. TimesSquare Capital Management LLC’s holdings in Blackline were worth $29,413,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in BL. Wolverine Trading LLC acquired a new stake in Blackline in the third quarter valued at $246,000. First Republic Investment Management Inc. acquired a new stake in Blackline in the third quarter valued at $257,000. PEAK6 Investments L.P. acquired a new stake in Blackline in the third quarter valued at $267,000. Quadrature Capital Ltd acquired a new stake in Blackline in the fourth quarter valued at $293,000. Finally, American International Group Inc. grew its holdings in Blackline by 53.5% in the third quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock valued at $357,000 after purchasing an additional 3,646 shares during the last quarter. 79.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Blackline Inc (BL) opened at $44.31 on Friday. The company has a market capitalization of $2,357.25, a price-to-earnings ratio of -59.88 and a beta of -1.51. Blackline Inc has a 52 week low of $26.72 and a 52 week high of $45.19.
Several analysts have weighed in on the company. BidaskClub raised Blackline from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Zacks Investment Research lowered Blackline from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. JMP Securities raised Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Robert W. Baird reissued a “buy” rating on shares of Blackline in a report on Friday, February 16th. Finally, KeyCorp reissued a “buy” rating and issued a $46.00 target price on shares of Blackline in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $37.95.
ILLEGAL ACTIVITY NOTICE: “Blackline Inc (BL) Position Lifted by TimesSquare Capital Management LLC” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://sportsperspectives.com/2018/03/11/blackline-inc-bl-position-lifted-by-timessquare-capital-management-llc.html.
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.
Want to see what other hedge funds are holding BL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackline Inc (NASDAQ:BL).
Receive News & Ratings for Blackline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline and related companies with MarketBeat.com's FREE daily email newsletter.