BlackLine (NASDAQ:BL) Director Thomas Unterman Sells 910 Shares

Key Points

• Thomas Unterman, a director at BlackLine, sold 910 shares of the company at an average price of $55.00, totaling $50,050.00, which reduces his ownership to 46,360 shares.
• BlackLine reported a 7.2% increase in quarterly revenue year-over-year, with earnings per share (EPS) of $0.51, surpassing analysts' estimates by $0.01.
• Analyst ratings for BlackLine show mixed opinions, with five analysts giving it a Buy rating, five a Hold rating, and three a Sell rating, amid a current consensus price target of $60.58.

BlackLine (NASDAQ:BL - Get Free Report) Director Thomas Unterman sold 910 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director directly owned 46,360 shares of the company's stock, valued at approximately $2,549,800. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The stock was 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 stock was 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 stock was sold at an average price of $56.70, for a total value of $50,179.50.

BlackLine Stock Performance

Shares of NASDAQ BL traded down $0.56 during mid-day trading on Wednesday, hitting $53.81. 443,973 shares of the company were exchanged, compared to its average volume of 658,584. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $53.67 and a 200-day simple moving average of $52.36. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95.

BlackLine (NASDAQ:BL - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.51 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 company had revenue of $172.03 million during the quarter, compared to the consensus estimate of $170.87 million. During the same quarter last year, the company earned $0.58 earnings per share. BlackLine's quarterly revenue was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, sell-side analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial lifted their price objective on BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a research report on Tuesday, July 29th. Morgan Stanley boosted their price target on BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. BMO Capital Markets upped their target price on BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Finally, DA Davidson reiterated a "neutral" rating and issued a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $60.58.

Institutional Investors Weigh In On BlackLine

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in shares of 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 acquiring an additional 478 shares in the last quarter. Cim Investment Management Inc. grew its holdings in shares of BlackLine by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 12,751 shares of the technology company's stock worth $749,000 after purchasing an additional 6,399 shares in the last quarter. State of Wyoming grew its holdings in shares of BlackLine by 29.9% during the 2nd quarter. State of Wyoming now owns 10,820 shares of the technology company's stock worth $613,000 after purchasing an additional 2,492 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of BlackLine by 7.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 176,366 shares of the technology company's stock worth $9,986,000 after buying an additional 11,939 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of BlackLine by 635.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,755 shares of the technology company's stock worth $496,000 after buying an additional 7,565 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

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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