BlackLine $BL Position Boosted by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP increased its holdings in BlackLine by 10.3%, owning 132,151 shares valued at approximately $6.4 million as of the latest reporting period.
• Several other large investors, including Westwood Holdings Group and First Manhattan CO. LLC, also significantly increased their positions in BlackLine, indicating strong institutional interest.
• BlackLine reported $0.51 earnings per share, exceeding analysts' expectations, with a revenue of $172.03 million for the quarter, marking a 7.2% annual increase.

Cinctive Capital Management LP boosted its stake in BlackLine (NASDAQ:BL - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,151 shares of the technology company's stock after buying an additional 12,313 shares during the quarter. Cinctive Capital Management LP owned approximately 0.21% of BlackLine worth $6,399,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG lifted its position in shares of BlackLine by 59.2% in the fourth quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock valued at $3,270,000 after acquiring an additional 20,008 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of BlackLine by 7.8% during 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 purchasing an additional 11,549 shares during the last quarter. Procyon Advisors LLC boosted its stake in shares of BlackLine by 21.6% during the 1st quarter. Procyon Advisors LLC now owns 7,834 shares of the technology company's stock worth $379,000 after purchasing an additional 1,392 shares during the last quarter. Stanley Laman Group Ltd. raised its position in shares of BlackLine by 6.0% in the first quarter. Stanley Laman Group Ltd. now owns 98,879 shares of the technology company's stock valued at $4,788,000 after buying an additional 5,566 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in 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 period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BL. Raymond James Financial upgraded BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price objective on the stock in a report on Tuesday, July 29th. DA Davidson restated a "neutral" rating and issued a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. BMO Capital Markets increased their price target on shares of 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 boosted their price objective on shares of BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Finally, Zacks Research raised BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, BlackLine presently has an average rating of "Hold" and an average price target of $61.08.

Insider Activity

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at $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 is available at this link. Corporate insiders own 8.60% of the company's stock.

BlackLine Stock Up 0.2%

BL traded up $0.11 during trading on Tuesday, hitting $54.54. The company had a trading volume of 261,906 shares, compared to its average volume of 758,251. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $3.38 billion, a PE ratio of 42.29, a P/E/G ratio of 8.80 and a beta of 0.95. The business has a 50-day moving average of $54.12 and a 200-day moving average of $51.92.

BlackLine (NASDAQ:BL - Get Free Report) last released 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. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company had revenue of $172.03 million during the quarter, compared to the consensus estimate of $170.87 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company's revenue 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. As a group, analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

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.