Raymond James Financial Inc. Has $18.40 Million Holdings in BlackLine $BL

Key Points

• Raymond James Financial Inc. has decreased its stake in BlackLine, owning now 380,007 shares valued at approximately $18.4 million after selling 11,201 shares in the first quarter.
• In recent financial results, BlackLine exceeded earnings expectations with $0.51 EPS and reported a revenue of $172.03 million, indicating a growth of 7.2% year-over-year.
• Research analysts have mixed ratings on BlackLine, with a consensus rating of "Hold" and an average price target of $61.08, while Raymond James raised their target price to $67.00.

Raymond James Financial Inc. decreased its holdings in BlackLine (NASDAQ:BL - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,007 shares of the technology company's stock after selling 11,201 shares during the quarter. Raymond James Financial Inc. owned approximately 0.61% of BlackLine worth $18,400,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of BlackLine by 7.2% in the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company's stock worth $46,548,000 after purchasing an additional 64,676 shares during the last quarter. Public Sector Pension Investment Board boosted its position in BlackLine by 27.2% during the first quarter. Public Sector Pension Investment Board now owns 164,427 shares of the technology company's stock valued at $7,962,000 after acquiring an additional 35,192 shares during the last quarter. Nuveen LLC bought a new stake in BlackLine during the first quarter valued at $25,194,000. Invesco Ltd. boosted its position in BlackLine by 1.2% during the first quarter. Invesco Ltd. now owns 172,195 shares of the technology company's stock valued at $8,338,000 after acquiring an additional 2,031 shares during the last quarter. Finally, Gagnon Advisors LLC boosted its position in BlackLine by 25.4% during the first quarter. Gagnon Advisors LLC now owns 130,050 shares of the technology company's stock valued at $6,297,000 after acquiring an additional 26,358 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Up 0.2%

Shares of NASDAQ BL traded up $0.13 during trading on Monday, hitting $54.37. 533,541 shares of the company traded hands, compared to its average volume of 996,771. The business's fifty day moving average is $54.46 and its 200 day moving average is $51.79. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.15, 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 quick ratio of 1.64 and a current ratio of 1.64.

BlackLine (NASDAQ:BL - Get Free Report) last announced 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. 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 business earned $0.58 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Equities research analysts predict 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 dated Friday, August 22nd. The shares were 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 legal filing with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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. Morgan Stanley upped their price target on shares of BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. 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 target on the stock. Wall Street Zen cut shares of BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, BMO Capital Markets upped their price target on shares of BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $61.08.

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.