Robeco Institutional Asset Management B.V. Sells 15,000 Shares of BlackLine $BL

Key Points

• Robeco Institutional Asset Management B.V. reduced its shares of BlackLine by 11.1%, now holding 120,000 shares worth approximately $6.79 million.
• Insider activity includes Michelle D. Stalick selling 664 shares and Thomas Unterman selling 910 shares, indicating adjustments in executive ownership.
• Analysts' ratings for BlackLine are mixed, with a consensus rating of "Hold" and a target price around $60.58.

Robeco Institutional Asset Management B.V. lowered its position in shares of BlackLine (NASDAQ:BL - Free Report) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,000 shares of the technology company's stock after selling 15,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.19% of BlackLine worth $6,794,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Hawk Ridge Capital Management LP grew its holdings in shares of BlackLine by 124.3% during the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock worth $94,901,000 after purchasing an additional 1,086,185 shares during the last quarter. Westwood Holdings Group Inc. increased its position in BlackLine by 106.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock valued at $57,443,000 after acquiring an additional 611,499 shares in the last quarter. American Century Companies Inc. raised its stake in shares of BlackLine by 7.2% in the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company's stock worth $46,548,000 after acquiring an additional 64,676 shares during the last quarter. Tensile Capital Management LP lifted its position in shares of BlackLine by 17.6% during the first quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company's stock worth $42,197,000 after purchasing an additional 130,488 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of BlackLine by 408.7% during the first quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company's stock worth $39,510,000 after purchasing an additional 655,565 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Activity

In related news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer 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 sale 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 company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the sale, the director directly owned 42,745 shares of the company's stock, valued at $2,350,975. The trade was a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,369 shares of company stock valued at $186,155 over the last 90 days. Corporate insiders own 8.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research raised shares of BlackLine to a "strong sell" rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. BMO Capital Markets upped their price target on BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. JMP Securities reiterated a "market outperform" rating and issued a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. 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 analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, BlackLine currently has an average rating of "Hold" and a consensus price target of $60.58.

BlackLine Stock Performance

BL stock opened at $51.61 on Monday. The business's fifty day moving average is $53.07 and its 200-day moving average is $52.56. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. The company has a market cap of $3.19 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 8.47 and a beta of 0.97. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $172.03 million during the quarter, compared to analysts' expectations of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. Equities research analysts forecast that BlackLine will post 0.9 EPS for the current year.

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.

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