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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BL. Royal Bank of Canada grew its stake in shares of BlackLine by 15.5% in the 1st quarter. Royal Bank of Canada now owns 311,247 shares of the technology company's stock valued at $15,070,000 after purchasing an additional 41,653 shares during the period. Deutsche Bank AG grew its position in BlackLine by 59.2% in the fourth quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock valued at $3,270,000 after acquiring an additional 20,008 shares during the period. New York State Common Retirement Fund grew its position in BlackLine by 7.8% in the first quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock valued at $7,702,000 after acquiring an additional 11,549 shares during the period. Procyon Advisors LLC grew its position in BlackLine by 21.6% in the first quarter. Procyon Advisors LLC now owns 7,834 shares of the technology company's stock valued at $379,000 after acquiring an additional 1,392 shares during the period. Finally, Stanley Laman Group Ltd. grew its position in BlackLine by 6.0% in the first quarter. Stanley Laman Group Ltd. now owns 98,879 shares of the technology company's stock valued at $4,788,000 after acquiring an additional 5,566 shares during the period. Institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BL. Truist Financial upped their target price on shares of BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. DA Davidson reaffirmed a "neutral" rating and set a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and set a $80.00 price objective on shares of BlackLine in a research note on Thursday, September 11th. Finally, Citigroup reaffirmed 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. Five research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $60.58.

Insider Buying and Selling

In other BlackLine news, 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 transaction, the chief accounting officer directly owned 23,830 shares in the company, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company's stock.

BlackLine Price Performance

NASDAQ:BL traded up $0.17 during mid-day trading on Wednesday, reaching $54.84. 614,321 shares of the company were exchanged, compared to its average volume of 689,574. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a fifty day moving average of $53.72 and a 200 day moving average of $52.16. 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 market cap of $3.39 billion, a PE ratio of 42.51, a PEG ratio of 8.97 and a beta of 0.95.

BlackLine (NASDAQ:BL - Get Free Report) last issued 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. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The firm had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The company's revenue 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, research analysts anticipate that BlackLine will post 0.9 EPS for the current fiscal year.

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.