Comerica Bank Boosts Holdings in BlackLine $BL

Key Points

• Comerica Bank increased its stake in BlackLine by 6.0%, holding a total of 178,344 shares valued at approximately $8.63 million as of the latest reporting period.
• Several other institutional investors also increased their holdings in BlackLine, with Westwood Holdings Group raising their stake by 106.4%, now owning over 1.18 million shares worth $57.44 million.
• BlackLine's latest earnings report showed an EPS of $0.51, exceeding analyst expectations, with revenues of $172.03 million for the quarter.

Comerica Bank grew its holdings in BlackLine (NASDAQ:BL - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 178,344 shares of the technology company's stock after purchasing an additional 10,114 shares during the quarter. Comerica Bank owned approximately 0.29% of BlackLine worth $8,635,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BL. Mariner LLC bought a new position in shares of BlackLine during the 4th quarter worth approximately $263,000. Dimensional Fund Advisors LP raised its stake in shares of BlackLine by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 721,831 shares of the technology company's stock worth $43,858,000 after acquiring an additional 58,365 shares in the last quarter. Stifel Financial Corp raised its stake in shares of BlackLine by 60.2% during the 4th quarter. Stifel Financial Corp now owns 6,561 shares of the technology company's stock worth $399,000 after acquiring an additional 2,465 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of BlackLine during the 4th quarter worth approximately $280,000. Finally, Northern Trust Corp raised its stake in shares of BlackLine by 14.9% during the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company's stock worth $45,290,000 after acquiring an additional 96,523 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Performance

NASDAQ BL traded up $0.13 during mid-day trading on Monday, reaching $54.37. 533,541 shares of the stock were exchanged, compared to its average volume of 996,771. The business's 50 day moving average is $54.46 and its 200-day moving average is $51.79. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a market capitalization of $3.36 billion, a P/E 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 results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The firm's quarterly 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 earnings per share. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, equities research analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. BMO Capital Markets boosted their price objective 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. Wall Street Zen lowered shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research raised shares of BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.08.

Insider Transactions at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the 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 transaction, the chief accounting officer directly owned 23,830 shares of the company's stock, valued at $1,287,534.90. This trade represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is currently owned by insiders.

BlackLine 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.