American Century Companies Inc. Has $46.55 Million Holdings in BlackLine $BL

Key Points

• American Century Companies Inc. increased its stake in BlackLine (NASDAQ: BL) by 7.2%, acquiring an additional 64,676 shares, bringing their total to 961,341 shares valued at approximately $46.5 million.
• Recent analyst ratings for BlackLine show mixed sentiments, with Truist Financial raising the price target to $50.00 while others downgraded the stock, leading to a consensus rating of "Hold".
• BlackLine reported a 7.2% year-over-year revenue increase in its latest earnings, with an EPS of $0.51, slightly above the consensus estimate of $0.50.

American Century Companies Inc. increased its position in shares of BlackLine (NASDAQ:BL - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 961,341 shares of the technology company's stock after buying an additional 64,676 shares during the quarter. American Century Companies Inc. owned 1.54% of BlackLine worth $46,548,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Mariner LLC acquired a new stake in shares of BlackLine in the fourth quarter valued at approximately $263,000. Canada Pension Plan Investment Board boosted its stake in shares of BlackLine by 58.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 38,200 shares of the technology company's stock worth $2,321,000 after buying an additional 14,100 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of BlackLine by 6.6% in the 4th quarter. First Trust Advisors LP now owns 456,038 shares of the technology company's stock valued at $27,709,000 after acquiring an additional 28,310 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BlackLine by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,831 shares of the technology company's stock valued at $43,858,000 after acquiring an additional 58,365 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in BlackLine by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 34,812 shares of the technology company's stock worth $2,115,000 after acquiring an additional 1,509 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Performance

Shares of BL traded down $0.83 during mid-day trading on Monday, hitting $53.15. 71,035 shares of the company's stock were exchanged, compared to its average volume of 756,349. 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 firm has a market cap of $3.29 billion, a price-to-earnings ratio of 41.18, a price-to-earnings-growth ratio of 8.86 and a beta of 0.91. The stock's 50-day simple moving average is $54.57 and its 200-day simple moving average is $51.98. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company 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. On average, equities research analysts expect that BlackLine will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the transaction, the chief accounting officer directly owned 25,235 shares in the company, valued at approximately $1,391,457.90. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BL. Cantor Fitzgerald assumed coverage on BlackLine in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price objective on the stock. Citigroup restated a "buy" rating and set a $67.00 price objective (up from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Morgan Stanley raised their target price 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. Zacks Research raised BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $61.08.

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.