6,651 Shares in BlackLine $BL Bought by Blue Trust Inc.

Key Points

• Blue Trust Inc. acquired 6,651 shares of BlackLine worth approximately $377,000, marking a significant new position for the company during the second quarter.
• Analysts are generally positive about BlackLine, with several firms raising their price targets; JMP Securities has a target of $80.00 while Citigroup has increased its target to $67.00.
• In its latest earnings report, BlackLine topped analysts' expectations with an EPS of $0.51 and revenue of $172.03 million, indicating a year-over-year revenue growth of 7.2%.

Blue Trust Inc. acquired a new position in shares of BlackLine (NASDAQ:BL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,651 shares of the technology company's stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BL. Strs Ohio bought a new stake in shares of BlackLine during the first quarter worth about $82,000. Asset Management One Co. Ltd. grew its stake 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 worth $103,000 after purchasing an additional 856 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of BlackLine in the second quarter worth $125,000. KBC Group NV grew its stake 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 worth $141,000 after purchasing an additional 739 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in shares of BlackLine in the 1st quarter valued at about $182,000. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BL has been the topic of a number of analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $80.00 price target on shares of BlackLine in a research report on Thursday, September 11th. 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 report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. DA Davidson reaffirmed a "neutral" rating and issued a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th. Finally, Citigroup reaffirmed a "buy" rating and issued a $67.00 price objective (up from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, BlackLine presently has an average rating of "Hold" and a consensus target price of $60.58.

BlackLine Price Performance

BL stock opened at $50.21 on Tuesday. The stock has a market capitalization of $3.11 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 8.05 and a beta of 0.97. The company's 50-day moving average is $52.60 and its 200-day moving average is $52.58. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

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

Insiders Place Their Bets

In related news, Director Thomas Unterman sold 910 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the transaction, the director directly owned 42,745 shares in the company, valued at $2,350,975. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the transaction, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,369 shares of company stock worth $186,155. 8.60% of the stock is owned by company insiders.

About BlackLine

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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