BlackLine $BL is Topline Capital Management LLC's 3rd Largest Position

Key Points

• Topline Capital Management LLC reduced its stake in BlackLine by 8.3% during Q1, selling 82,904 shares, leaving it with 914,000 shares valued at approximately $44.26 million.
• Several institutional investors increased their positions in BlackLine, with Westwood Holdings Group raising its stake by 106.4% and owning over 1.18 million shares as of the end of Q1.
• Analysts have raised price targets for BlackLine, with Morgan Stanley increasing theirs to $68.00 and five analysts rating the stock as a Buy, indicating positive sentiment towards the company's growth prospects.

Topline Capital Management LLC cut its stake in BlackLine (NASDAQ:BL - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 914,000 shares of the technology company's stock after selling 82,904 shares during the quarter. BlackLine comprises approximately 10.0% of Topline Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. Topline Capital Management LLC owned about 1.47% of BlackLine worth $44,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Deutsche Bank AG increased its stake in shares of BlackLine by 59.2% in the 4th quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock worth $3,270,000 after acquiring an additional 20,008 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of BlackLine by 7.8% in the 1st quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock worth $7,702,000 after acquiring an additional 11,549 shares during the last quarter. Procyon Advisors LLC increased its stake in shares of BlackLine by 21.6% in 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. increased its stake in shares of BlackLine by 6.0% in the 1st 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 during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of BlackLine by 2,276.4% in the 1st quarter. Bessemer Group Inc. now owns 11,074 shares of the technology company's stock worth $536,000 after acquiring an additional 10,608 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Trading Down 0.8%

BlackLine stock traded down $0.43 during midday trading on Tuesday, reaching $53.94. 279,480 shares of the stock traded hands, compared to its average volume of 756,396. The company has a 50-day simple moving average of $54.42 and a two-hundred day simple moving average of $51.81. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $3.34 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61.

BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, beating 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 company had revenue of $172.03 million during the quarter, compared to analysts' expectations of $170.87 million. During the same period last year, the business posted $0.58 EPS. BlackLine'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. Research analysts expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BL has been the subject of a number of recent research reports. 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. Truist Financial raised their target price on BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Morgan Stanley raised their price objective on BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Citigroup reissued a "buy" rating and set a $67.00 price objective (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Finally, Cantor Fitzgerald started coverage on BlackLine in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $61.08.

Insider Activity

In other news, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the transaction, the chief accounting officer 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 SEC, which can be accessed through the SEC website. Insiders own 8.60% of the company's stock.

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.