BlackLine $BL Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in BlackLine by 29.8%, acquiring an additional 11,400 shares during the first quarter, bringing its total ownership to 49,600 shares valued at approximately $2.4 million.
• Institutional investors own 95.13% of BlackLine's stock, with significant purchases from Westwood Holdings Group, Nuveen LLC, and Balyasny Asset Management in recent quarters.
• BlackLine reported an EPS of $0.51 for the last quarter, exceeding analysts' estimates, and projected FY 2025 EPS guidance between 2.130-2.240.

Canada Pension Plan Investment Board raised its position in BlackLine (NASDAQ:BL - Free Report) by 29.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,600 shares of the technology company's stock after buying an additional 11,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.08% of BlackLine worth $2,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BL. State of Wyoming increased its stake in BlackLine by 360.4% in the 1st quarter. State of Wyoming now owns 8,328 shares of the technology company's stock worth $403,000 after acquiring an additional 6,519 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of BlackLine during the 1st quarter valued at $182,000. Comerica Bank boosted its holdings in BlackLine by 6.0% in the 1st quarter. Comerica Bank now owns 178,344 shares of the technology company's stock worth $8,635,000 after buying an additional 10,114 shares during the last quarter. Synovus Financial Corp raised its position in BlackLine by 33.9% in the first quarter. Synovus Financial Corp now owns 15,178 shares of the technology company's stock valued at $735,000 after purchasing an additional 3,846 shares during the period. Finally, Hsbc Holdings PLC increased its position in BlackLine by 3.8% in the 1st quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company's stock valued at $405,000 after acquiring an additional 305 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $54.03, for a total transaction of $35,875.92. Following the transaction, the chief accounting officer directly owned 23,830 shares in the company, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BL. Citigroup reiterated a "buy" rating and issued a $67.00 price target (up from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Raymond James Financial upgraded shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target for the company in a research note on Tuesday, July 29th. Truist Financial raised their price objective on shares of BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Morgan Stanley boosted their price target on shares of BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Five investment 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. Based on data from MarketBeat, BlackLine currently has a consensus rating of "Hold" and a consensus target price of $61.08.

BlackLine Price Performance

NASDAQ:BL traded up $0.68 during trading hours on Monday, reaching $54.29. 357,869 shares of the company traded hands, compared to its average volume of 757,944. The firm's 50-day moving average is $54.16 and its 200-day moving average is $51.89. 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 1-year low of $40.82 and a 1-year high of $66.25. The stock has a market cap of $3.36 billion, a P/E ratio of 42.08, a P/E/G ratio of 8.80 and a beta of 0.95.

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, topping the consensus estimate 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 analysts' expectations of $170.87 million. During the same quarter in the previous year, the company earned $0.58 earnings per share. The firm'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 expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

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.