Amundi Sells 6,479 Shares of BlackLine $BL

Key Points

• Amundi has reduced its holdings in BlackLine by 11.9%, selling 6,479 shares and currently owning 47,795 shares valued at approximately $2.2 million.
• Institutional investors hold 95.13% of BlackLine's stock, with several hedge funds increasing their stakes, including Deutsche Bank AG which boosted its stake by 59.2%.
• BlackLine reported $0.51 earnings per share (EPS) for the last quarter, exceeding analyst expectations, with a revenue of $172.03 million, a 7.2% year-over-year increase.

Amundi reduced its stake in shares of BlackLine (NASDAQ:BL - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,795 shares of the technology company's stock after selling 6,479 shares during the period. Amundi owned 0.08% of BlackLine worth $2,202,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. First Manhattan CO. LLC. lifted its position in shares of BlackLine by 408.7% during the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company's stock valued at $39,510,000 after buying an additional 655,565 shares in the last quarter. Royal Bank of Canada lifted its position in shares of BlackLine by 15.5% during the 1st quarter. Royal Bank of Canada now owns 311,247 shares of the technology company's stock valued at $15,070,000 after buying an additional 41,653 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of BlackLine by 29.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 49,600 shares of the technology company's stock valued at $2,402,000 after buying an additional 11,400 shares in the last quarter. State of Wyoming lifted its position in shares of BlackLine by 360.4% during the 1st quarter. State of Wyoming now owns 8,328 shares of the technology company's stock valued at $403,000 after buying an additional 6,519 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of BlackLine during the 1st quarter valued at about $182,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Trading Up 0.1%

Shares of NASDAQ BL traded up $0.07 during trading hours on Monday, hitting $54.36. 455,383 shares of the company traded hands, compared to its average volume of 755,622. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 8.91 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. The company's 50 day moving average price is $53.87 and its 200 day moving average price is $52.08. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 anticipate that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In other news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the transaction, the chief accounting officer owned 23,830 shares of the company's stock, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company's stock.

Analyst Ratings Changes

BL has been the topic of a number of research analyst reports. DA Davidson reissued a "neutral" rating and issued a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. Zacks Research raised BlackLine to a "strong sell" rating in a report on Friday, August 8th. BMO Capital Markets boosted their price target on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Citigroup reissued 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. Finally, Truist Financial boosted their price target on BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, BlackLine currently has a consensus rating of "Hold" and a consensus price target of $60.58.

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.