Meritage Group LP Invests $22.35 Million in BlackLine, Inc.

Meritage Group LP Has $22.35 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Meritage Group LP has invested $22.35 million in BlackLine, Inc., representing a significant portion of their total assets. This investment demonstrates confidence in BlackLine's future growth and market position as a major player in the cloud-based financial operations solutions sector.

BlackLine

Institutional Investors Update Positions

BlackLine (NASDAQ:BL) Reaches New 52-Week Low at $47.26

Several institutional investors, including Vanguard Group Inc., Brown Advisory Inc., Conestoga Capital Advisors LLC, Meritage Group LP, and Northern Trust Corp, have updated their positions in BlackLine shares.

Insider Trading Activity

CEO Owen Ryan acquired 3,000 shares of BlackLine stock, while CRO Mark Woodhams sold 2,877 shares.

Analysts Update Price Targets and Ratings

Several analysts have updated their price targets and ratings for BlackLine, including Citigroup, Robert W. Baird, Wolfe Research, JMP Securities, and BMO Capital Markets.

BlackLine Hits New 52-Week Low

BlackLine, Inc. (NASDAQ:BL) reached a new 52-week low at $47.26, indicating a decline in its stock price.

BlackLine's Institutional Investors Update Holdings

BlackLine, Inc. (NASDAQ:BL) Shares Sold by US Bancorp DE

Orion Portfolio Solutions LLC Reduces Position in BlackLine, Inc. (NASDAQ:BL)

BlackLine, Inc. (NASDAQ:BL) Shares Sold by UBS Group AG

Several institutional investors have updated their holdings in BlackLine, Inc. US Bancorp DE sold 1,099 shares, while CWM LLC, CVA Family Office LLC, Federated Hermes Inc., Operose Advisors LLC, and Cutler Group LLC CA increased their stakes. On the other hand, Orion Portfolio Solutions LLC and UBS Group AG reduced their positions.

Insider Activity: CEO and CRO Engage in Transactions

CEO Owen Ryan purchased 3,000 shares of BlackLine stock at an average cost of $49.88 per share, while CRO Mark Woodhams sold 2,877 shares at an average price of $58.00 per share.

BlackLine's Earnings Report Surpasses Estimates

BlackLine, Inc. reported quarterly earnings exceeding estimates, with a net margin of 2.30% and a return on equity of 9.07%. Analysts predict 1.1 earnings per share for the current year.

Insider Activity: Mark Woodhams Sells Shares, Owen Ryan Buys Shares

PNC Financial Services Group Inc. Sells 483 Shares of BlackLine, Inc. (NASDAQ:BL)

Mark Woodhams, CRO of BlackLine, Inc., sold 2,877 shares of the company's stock, while Owen Ryan, CEO of BlackLine, Inc., purchased 3,000 shares.

PNC Financial Services Group Inc. Sells 483 Shares of BlackLine, Inc.

PNC Financial Services Group Inc. lowered its stake in BlackLine, Inc. by 3.6% in the 4th quarter, selling 483 shares.

BlackLine is a leading provider of cloud software that automates and controls financial close and accounting processes. The company helps organizations move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility.

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 high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany workflow that stores permissions by entity and transaction type thereby ensuring both the initiator and the approver of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.

COM:BLACKLINE

BlackLine

Last Close

58.53

21/11 21:00

Market Cap

2.92B

Beta: -

Volume Today

843.39K

Avg: -

Analysis Not Available