520,317 Shares in BlackLine $BL Bought by Nuveen LLC

Nuveen LLC bought a new position in shares of BlackLine (NASDAQ:BL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 520,317 shares of the technology company's stock, valued at approximately $25,194,000. Nuveen LLC owned 0.82% of BlackLine as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in shares of BlackLine in the fourth quarter valued at approximately $73,000. Asset Management One Co. Ltd. boosted its position in shares of BlackLine by 67.6% in the first quarter. Asset Management One Co. Ltd. now owns 2,122 shares of the technology company's stock valued at $103,000 after acquiring an additional 856 shares during the period. KBC Group NV boosted its position in shares of BlackLine by 33.9% in the first quarter. KBC Group NV now owns 2,919 shares of the technology company's stock valued at $141,000 after acquiring an additional 739 shares during the period. Bridgewater Associates LP bought a new position in shares of BlackLine in the fourth quarter valued at approximately $244,000. Finally, Bayforest Capital Ltd boosted its position in shares of BlackLine by 282.6% in the first quarter. Bayforest Capital Ltd now owns 4,277 shares of the technology company's stock valued at $207,000 after acquiring an additional 3,159 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup restated a "buy" rating and issued a $67.00 price objective (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Piper Sandler upped their target price on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. BMO Capital Markets upped their target price on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald assumed coverage on BlackLine in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $58.00 target price on the stock. Finally, Zacks Research upgraded shares of BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.08.

Insider Activity at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer directly owned 25,235 shares of the company's stock, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.60% of the company's stock.

BlackLine Price Performance

BlackLine stock traded up $0.5750 during mid-day trading on Friday, hitting $53.4250. 210,967 shares of the company traded hands, compared to its average volume of 754,660. BlackLine has a one year low of $40.82 and a one year high of $66.25. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 8.57 and a beta of 0.91. 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 stock has a fifty day moving average price of $54.58 and a 200-day moving average price of $52.24.

BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The business had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. During the same period in the previous year, the business posted $0.58 earnings per share. BlackLine's revenue for the quarter 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, equities analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

BlackLine 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.