State of Wyoming Purchases 6,519 Shares of BlackLine $BL

Key Points

• The State of Wyoming increased its stake in BlackLine (NASDAQ:BL) by 360.4% in the first quarter, now owning 8,328 shares valued at approximately $403,000.
• Institutional investors own 95.13% of BlackLine's stock, with notable increases from firms like Deutsche Bank AG and Bessemer Group Inc. during the last quarter.
• BlackLine reported a quarterly earnings per share (EPS) of $0.51, slightly surpassing analysts' expectations, alongside a revenue of $172.03 million during the period.

State of Wyoming grew its holdings in BlackLine (NASDAQ:BL - Free Report) by 360.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,328 shares of the technology company's stock after acquiring an additional 6,519 shares during the period. State of Wyoming's holdings in BlackLine were worth $403,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in shares of BlackLine by 67.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,122 shares of the technology company's stock valued at $103,000 after acquiring an additional 856 shares during the period. KBC Group NV grew its holdings in BlackLine by 33.9% during the 1st quarter. KBC Group NV now owns 2,919 shares of the technology company's stock valued at $141,000 after purchasing an additional 739 shares in the last quarter. Virtus Advisers LLC acquired a new stake in BlackLine during the 1st quarter valued at $182,000. Bayforest Capital Ltd grew its holdings in BlackLine by 282.6% during the 1st quarter. Bayforest Capital Ltd now owns 4,277 shares of the technology company's stock valued at $207,000 after purchasing an additional 3,159 shares in the last quarter. Finally, Mariner LLC acquired a new stake in BlackLine during the 4th quarter valued at $263,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Buying and Selling

In related news, CAO Michelle D. Stalick sold 664 shares of the company'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 transaction, the chief accounting officer directly owned 23,830 shares in the company, valued at $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 is available through this link. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BL has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $67.00 price target (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Wall Street Zen lowered shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial raised their price objective on shares of BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Cantor Fitzgerald started coverage on shares of BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price objective for the company. Finally, Raymond James Financial raised shares of 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. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.08.

BlackLine Stock Performance

Shares of BlackLine stock traded down $1.34 on Wednesday, reaching $52.61. The stock had a trading volume of 925,519 shares, compared to its average volume of 966,225. The business's 50-day moving average price is $54.29 and its two-hundred day moving average price is $51.83. 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 has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The stock has a market cap of $3.26 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share 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 net margin of 13.05% and a return on equity of 15.95%. BlackLine's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company 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. On average, sell-side 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.