Thomas Unterman Sells 2,730 Shares of BlackLine (NASDAQ:BL) Stock

Key Points

• Thomas Unterman, a director at BlackLine, sold 2,730 shares of the company's stock on May 12, totaling $150,150 at an average price of $55.00, reducing his ownership by 5.46%.
• BlackLine's stock recently traded down by 1.0% to $53.81, with a market capitalization of $3.33 billion and a P/E ratio of 41.71.
• BlackLine's latest quarterly earnings report showed $172.03 million in revenue and earnings per share of $0.51, exceeding analysts' expectations for the quarter.

BlackLine (NASDAQ:BL - Get Free Report) Director Thomas Unterman sold 2,730 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $55.00, for a total value of $150,150.00. Following the completion of the sale, the director directly owned 47,270 shares of the company's stock, valued at $2,599,850. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Thomas Unterman also recently made the following trade(s):

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Thursday, August 28th, Thomas Unterman sold 910 shares of BlackLine stock. The stock was sold at an average price of $55.00, for a total value of $50,050.00.
• On Monday, July 21st, Thomas Unterman sold 885 shares of BlackLine stock. The stock was sold at an average price of $56.70, for a total value of $50,179.50.

BlackLine Trading Down 1.0%

Shares of NASDAQ BL traded down $0.56 during midday trading on Wednesday, hitting $53.81. The company's stock had a trading volume of 443,973 shares, compared to its average volume of 658,584. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. The business's 50 day moving average is $53.67 and its two-hundred day moving average is $52.36. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $3.33 billion, a P/E ratio of 41.71, 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 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 return on equity of 15.95% and a net margin of 13.05%.The firm had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company's revenue for the quarter 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, equities research analysts expect that BlackLine will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its holdings in shares of BlackLine by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company's stock valued at $87,000 after acquiring an additional 478 shares during the period. Cim Investment Management Inc. increased its holdings in shares of BlackLine by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 12,751 shares of the technology company's stock valued at $749,000 after acquiring an additional 6,399 shares during the period. State of Wyoming increased its holdings in shares of BlackLine by 29.9% in the 2nd quarter. State of Wyoming now owns 10,820 shares of the technology company's stock valued at $613,000 after acquiring an additional 2,492 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of BlackLine by 7.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 176,366 shares of the technology company's stock valued at $9,986,000 after acquiring an additional 11,939 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of BlackLine by 635.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,755 shares of the technology company's stock valued at $496,000 after acquiring an additional 7,565 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BL. Citigroup reiterated a "buy" rating and issued a $67.00 price target (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. DA Davidson restated a "neutral" rating and set a $56.00 price objective on shares of BlackLine in a report on Wednesday, August 6th. BMO Capital Markets raised 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. 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. Finally, Cantor Fitzgerald initiated coverage on BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, BlackLine currently has an average rating of "Hold" and a consensus price target of $60.58.

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.

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