Ananym Capital Management LP Lowers Stock Position in BlackLine $BL

Key Points

• Ananym Capital Management LP has reduced its stake in BlackLine by 32.7%, now holding 387,646 shares worth approximately $18.77 million, which accounts for 9.3% of its investment portfolio.
• BlackLine's recent quarterly earnings showed an earnings per share of $0.51, exceeding estimates and representing a 7.2% increase in revenue year-over-year, amounting to $172.03 million.
• Wall Street analysts maintain a consensus rating of "Hold" on BlackLine, with an average target price of $61.08, amid mixed ratings from multiple firms.

Ananym Capital Management LP lowered its position in BlackLine (NASDAQ:BL - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 387,646 shares of the technology company's stock after selling 188,306 shares during the quarter. BlackLine comprises approximately 9.3% of Ananym Capital Management LP's portfolio, making the stock its 5th largest holding. Ananym Capital Management LP owned approximately 0.62% of BlackLine worth $18,770,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in shares of BlackLine by 59.2% during the fourth quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock worth $3,270,000 after purchasing an additional 20,008 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of BlackLine by 7.8% during the 1st quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock valued at $7,702,000 after buying an additional 11,549 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of BlackLine by 21.6% during the 1st quarter. Procyon Advisors LLC now owns 7,834 shares of the technology company's stock worth $379,000 after acquiring an additional 1,392 shares during the last quarter. 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 worth $4,788,000 after acquiring an additional 5,566 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in BlackLine by 2,276.4% in the first quarter. Bessemer Group Inc. now owns 11,074 shares of the technology company's stock valued at $536,000 after acquiring an additional 10,608 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

BlackLine Trading Up 0.9%

BL traded up $0.46 during midday trading on Thursday, reaching $53.07. 763,176 shares of the company's stock traded hands, compared to its average volume of 759,238. The firm has a fifty day moving average of $54.29 and a two-hundred day moving average of $51.83. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 41.14, a P/E/G ratio of 8.92 and a beta of 0.95. 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 52 week low of $40.82 and a 52 week high of $66.25.

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

Insider Buying and Selling at BlackLine

In related news, CAO Michelle D. Stalick sold 664 shares of the company'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 value of $35,875.92. Following the sale, the chief accounting officer owned 23,830 shares in the company, valued at $1,287,534.90. This represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BL shares. DA Davidson reiterated a "neutral" rating and set a $56.00 price objective on shares of BlackLine in a research report on Wednesday, August 6th. Raymond James Financial upgraded shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a report on Tuesday, July 29th. BMO Capital Markets lifted their target price on shares of BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Wall Street Zen cut BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Piper Sandler increased their target price on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, BlackLine has an average rating of "Hold" and a consensus price target of $61.08.

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.