Barton Investment Management Has $9.85 Million Stock Holdings in BlackLine $BL

Key Points

• Barton Investment Management has reduced its stake in BlackLine by 22.0%, now holding 174,012 shares worth approximately $9.85 million, making it the firm's 13th largest investment.
• BlackLine reported earnings of $0.51 per share in its latest quarter, surpassing expectations and reflecting a 7.2% year-over-year revenue increase to $172.03 million.
• Research analysts have mixed ratings for BlackLine, with a consensus target price of $60.58, indicating a general sentiment of Hold amidst some buy recommendations.

Barton Investment Management lowered its stake in BlackLine (NASDAQ:BL - Free Report) by 22.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,012 shares of the technology company's stock after selling 48,977 shares during the quarter. BlackLine comprises approximately 1.0% of Barton Investment Management's holdings, making the stock its 13th largest holding. Barton Investment Management owned 0.28% of BlackLine worth $9,853,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its stake in shares of BlackLine by 7.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 30,812 shares of the technology company's stock valued at $1,743,000 after purchasing an additional 2,075 shares during the period. Dakota Wealth Management bought a new stake in shares of BlackLine in the 2nd quarter valued at $246,000. Public Employees Retirement System of Ohio increased its holdings in BlackLine by 36.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 105,889 shares of the technology company's stock worth $5,995,000 after purchasing an additional 28,196 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of BlackLine by 0.6% during the 1st quarter. Rhumbline Advisers now owns 146,839 shares of the technology company's stock worth $7,110,000 after buying an additional 815 shares during the last quarter. Finally, Strs Ohio bought a new position in BlackLine during the first quarter worth about $82,000. Institutional investors and hedge funds own 95.13% of the company's stock.

BlackLine Trading Up 0.5%

Shares of NASDAQ BL opened at $51.32 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. The firm's 50 day moving average price is $53.16 and its 200-day moving average price is $52.51. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a market cap of $3.18 billion, a PE ratio of 39.78, a P/E/G ratio of 8.38 and a beta of 0.97.

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 for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $172.03 million during 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 firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. 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 fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BL. Truist Financial lifted their price target on shares of BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Raymond James Financial raised shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a research report on Tuesday, July 29th. BMO Capital Markets upped their price objective on shares of BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Citigroup reiterated a "buy" rating and issued a $67.00 price objective (up previously from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Finally, JMP Securities restated a "market outperform" rating and set a $80.00 price target on shares of BlackLine in a research note on Thursday, September 11th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.58.

Insider Activity

In other BlackLine news, Director Thomas Unterman sold 910 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the transaction, the director owned 42,745 shares of the company's stock, valued at approximately $2,350,975. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michelle D. Stalick sold 664 shares of BlackLine 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 completion of the sale, the chief accounting officer owned 23,830 shares of the company's stock, valued at $1,287,534.90. This trade represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,369 shares of company stock worth $186,155 in the last ninety days. 8.60% of the stock is currently owned by 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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