Riverbridge Partners LLC Has $44.11 Million Stock Holdings in BlackLine $BL

Key Points

• Riverbridge Partners LLC reduced its stakes in BlackLine by 27.7% during the second quarter, holding 779,121 shares valued at approximately $44.11 million.
• Institutional investors currently own 95.13% of BlackLine's stock, with recent adjustments made by several firms including Xponance and Victory Capital Management.
• BlackLine reported year-over-year revenue growth of 7.2% and earnings that beat analysts' expectations, with a quarterly EPS of $0.51.

Riverbridge Partners LLC cut its holdings in BlackLine (NASDAQ:BL - Free Report) by 27.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 779,121 shares of the technology company's stock after selling 298,883 shares during the quarter. Riverbridge Partners LLC owned approximately 1.25% of BlackLine worth $44,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xponance Inc. increased its stake in shares of BlackLine by 6.8% in the first quarter. Xponance Inc. now owns 4,422 shares of the technology company's stock valued at $214,000 after buying an additional 280 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of BlackLine by 1.6% in the first quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company's stock valued at $870,000 after buying an additional 285 shares in the last quarter. Hsbc Holdings PLC increased its position in BlackLine by 3.8% in the first quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company's stock worth $405,000 after purchasing an additional 305 shares during the period. Nuveen Asset Management LLC raised its holdings in BlackLine by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 156,487 shares of the technology company's stock worth $9,508,000 after purchasing an additional 469 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in BlackLine by 1.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 35,491 shares of the technology company's stock worth $1,718,000 after purchasing an additional 603 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was 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 directly owned 23,830 shares of the company's stock, valued at approximately $1,287,534.90. This represents a 2.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Unterman sold 910 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director directly owned 42,745 shares of the company's stock, valued at approximately $2,350,975. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,369 shares of company stock valued at $186,155. 8.60% of the stock is owned by company insiders.

BlackLine Stock Performance

Shares of BL stock opened at $53.81 on Thursday. 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 stock has a market cap of $3.33 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95. The stock has a 50-day moving average of $53.67 and a 200-day moving average of $52.36. BlackLine has a one year low of $40.82 and a one year high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly 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 in the prior year, the business posted $0.58 EPS. BlackLine'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, sell-side analysts expect that BlackLine will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BL. Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a report on Tuesday, July 29th. Morgan Stanley boosted their price objective on BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. BMO Capital Markets boosted their price objective on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a 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 report on Wednesday, July 16th. Finally, DA Davidson reissued a "neutral" rating and set a $56.00 price objective on shares of BlackLine in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, BlackLine currently has an average rating of "Hold" and a consensus target price of $60.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.