BlackLine $BL Shares Acquired by Hawk Ridge Capital Management LP

Key Points

• Hawk Ridge Capital Management LP increased its stake in BlackLine by 124.3% during the first quarter, owning nearly 3.14% of the company, valued at approximately $94.9 million.
• BlackLine reported earnings of $0.51 EPS for the most recent quarter, slightly surpassing analyst expectations and demonstrating a 7.2% year-over-year revenue growth with total revenue of $172.03 million.
• Currently, BlackLine stock is rated a consensus "Hold" by analysts, with target prices ranging from $50.00 to $68.00.

Hawk Ridge Capital Management LP increased its holdings in BlackLine (NASDAQ:BL - Free Report) by 124.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,959,945 shares of the technology company's stock after buying an additional 1,086,185 shares during the quarter. BlackLine accounts for about 4.5% of Hawk Ridge Capital Management LP's investment portfolio, making the stock its 7th largest position. Hawk Ridge Capital Management LP owned approximately 3.14% of BlackLine worth $94,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. lifted its holdings in BlackLine by 67.6% during the first quarter. Asset Management One Co. Ltd. now owns 2,122 shares of the technology company's stock valued at $103,000 after purchasing an additional 856 shares in the last quarter. KBC Group NV raised its position in shares of BlackLine by 33.9% during the first quarter. KBC Group NV now owns 2,919 shares of the technology company's stock valued at $141,000 after buying an additional 739 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of BlackLine during the first quarter valued at approximately $182,000. Bayforest Capital Ltd raised its position in shares of BlackLine by 282.6% during the first quarter. Bayforest Capital Ltd now owns 4,277 shares of the technology company's stock valued at $207,000 after buying an additional 3,159 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of BlackLine by 6.8% during the first quarter. Xponance Inc. now owns 4,422 shares of the technology company's stock valued at $214,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

BlackLine Price Performance

Shares of BlackLine stock traded down $0.03 during trading on Tuesday, hitting $54.40. The stock had a trading volume of 298,897 shares, compared to its average volume of 758,472. The business has a fifty day moving average of $54.12 and a two-hundred day moving average of $51.92. The firm has a market cap of $3.37 billion, a P/E ratio of 42.18, a PEG ratio of 8.80 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 fifty-two week low of $40.82 and a fifty-two week high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company 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 business's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm 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, sell-side analysts expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of BlackLine in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price objective on the stock. 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. Truist Financial upped their price objective on shares of BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets raised their target price on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Five research 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.08.

Insider Activity at BlackLine

In related news, CAO Michelle D. Stalick sold 664 shares of the firm'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 completion of the transaction, the chief accounting officer owned 23,830 shares in the company, valued at $1,287,534.90. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.60% of the company's stock.

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.