First Manhattan Adds $7M in BlackLine, Inc. ($BL)
Key Points
- First Manhattan changed its BlackLine, Inc. ($BL) stake by 10.2% last quarter, boosting to 2,676,987 shares worth $74.77 million.
- Wall Street's consensus rating on $BL is Hold and an average price target of $41.77.
- $BL last traded around $27.93.
First Manhattan increased its position in BlackLine, Inc. ($BL) by 10.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,676,987 shares of BlackLine, Inc. after buying 248,383 shares during the quarter. First Manhattan's holdings in BlackLine, Inc. were worth $74.77 million as of its most recent filing.
BlackLine, Inc. ($BL) Stock
BlackLine, Inc. Earnings
Analysts Set New Price Targets
About BlackLine, Inc.
BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations in the United States and internationally. It offers financial close and consolidation solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching, which 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. The company also provides journal entry, which allows users to generate, review, and post manual journal entries; variance analysis that offers anomalous fluctuations in balance sheet and income statement account balances; compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing; and smart close for SAP solution. In addition, it offers credit and risk, collection, dispute and deduction, and team and task management, as well as AR intelligence, electronic invoicing and payment, and cash application solutions. Further, the company provides intercompany create functionality that stores permissions and business logic exceptions by entity, service, and transaction type; intercompany balance and resolve, which records an organization's intercompany transactions; and netting and settlement that enables open intercompany transactions, which integrate with treasury systems. Additionally, it offers implementation, optimization, live and web-based training, and support services. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. The company was incorporated in 2001 and is headquartered in Woodland Hills, California.
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