BlackLine (NASDAQ:BL) Director Sells $50,259.30 in Stock

Key Points

• BlackLine Director Thomas Unterman sold 910 shares of the company's stock for a total value of $50,259.30 at an average price of $55.23 per share, reducing his holdings by 1.96%.
• BlackLine reported earnings per share (EPS) of $0.51 for the quarter, beating analysts' expectations of $0.50, with a revenue increase of 7.2% year-over-year.
• Institutional ownership of BlackLine is high, with 95.13% of the stock held by institutional investors and hedge funds, which indicates strong institutional support for the company's stock.

BlackLine (NASDAQ:BL - Get Free Report) Director Thomas Unterman sold 910 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $55.23, for a total value of $50,259.30. Following the completion of the sale, the director directly owned 45,450 shares in the company, valued at approximately $2,510,203.50. The trade was a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Thomas Unterman also recently made the following trade(s):

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Thursday, August 28th, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Monday, July 21st, Thomas Unterman sold 885 shares of BlackLine stock. The shares were sold at an average price of $56.70, for a total value of $50,179.50.

BlackLine Price Performance

BL stock traded down $0.56 on Wednesday, reaching $53.81. The company had a trading volume of 443,973 shares, compared to its average volume of 658,584. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. The company's fifty day moving average is $53.67 and its 200 day moving average is $52.36. The company has a market cap of $3.33 billion, a P/E ratio of 41.71, a PEG ratio of 8.92 and a beta of 0.95.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The firm had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. During the same quarter in the prior year, the company earned $0.58 EPS. BlackLine's revenue was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, research analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Institutional Trading of BlackLine

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp acquired a new stake in shares of BlackLine during the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in BlackLine in the 2nd quarter valued at $33,000. Huntington National Bank increased its holdings in BlackLine by 57.5% in the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company's stock valued at $70,000 after purchasing an additional 451 shares in the last quarter. Osaic Holdings Inc. increased its holdings in BlackLine by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company's stock valued at $87,000 after purchasing an additional 478 shares in the last quarter. Finally, Strs Ohio acquired a new stake in BlackLine in the 1st quarter valued at $82,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BL has been the subject of several analyst reports. DA Davidson reiterated a "neutral" rating and issued a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. Citigroup reiterated a "buy" rating and issued a $67.00 price target (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Truist Financial boosted their price target on BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, August 7th. JMP Securities reiterated a "market outperform" rating and issued a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. Finally, Zacks Research upgraded BlackLine to a "strong sell" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.58.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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