5 High Growth SaaS Stocks that are Profitable

3. BlackLine, Inc. (NASDAQ:BL)

Q/Q Sales Growth: 21%

Number of Hedge Fund Holders in Q3 2022: 23

BlackLine, Inc. (NASDAQ:BL) is a financial automation company that enables users to reconcile their accounts, make journal entries, and discover balance sheet anomalies. It is based in Woodland Hills, California.

By the end of its December 2022 quarter, BlackLine, Inc. (NASDAQ:BL)’s revenue for the three months had stood at $139 million, allowing a sizeable 21% annual growth. Insider Monkey took a look at 920 hedge fund holdings for the third quarter of last year to determine that 23 had owned a stake in the firm.

BlackLine, Inc. (NASDAQ:BL)’s largest investor is Greg Poole’s Echo Street Capital Management which owns 1.2 million shares that are worth $80 million.

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