Thomas Unterman Sells 910 Shares of BlackLine (NASDAQ:BL) Stock

Key Points

• Director Thomas Unterman sold 910 shares of BlackLine stock at an average price of $55.00, resulting in a total value of $50,050, which decreased his ownership stake by 2.04%.
• BlackLine reported $0.51 earnings per share for the latest quarter, exceeding analysts' expectations and demonstrating a 7.2% year-over-year revenue growth with revenues reaching $172.03 million.
• Several brokerages have issued mixed ratings on BlackLine’s stock, with a consensus rating of "Hold" and a target price of $60.58, reflecting diverse expectations for the company's performance.

BlackLine (NASDAQ:BL - Get Free Report) Director Thomas Unterman sold 910 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of the sale, the director directly owned 43,655 shares in the company, valued at approximately $2,401,025. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 22nd, 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 Price Performance

NASDAQ BL traded down $0.56 during trading on Wednesday, reaching $53.81. 443,973 shares of the company traded hands, compared to its average volume of 658,584. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. The stock's 50 day moving average price is $53.67 and its two-hundred day moving average price is $52.36. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 8.92 and a beta of 0.95. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company had revenue of $172.03 million during the quarter, compared to analysts' expectations of $170.87 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. BlackLine's quarterly revenue was up 7.2% compared to the same quarter last year. 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, analysts anticipate that BlackLine will post 0.9 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BL. Morgan Stanley boosted their price target on shares of BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating and issued a $67.00 price target (up previously from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Cantor Fitzgerald began coverage on shares of BlackLine in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $58.00 price target for the company. Truist Financial boosted their price target on shares of BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Finally, Zacks Research raised shares of BlackLine to a "strong sell" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.58.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised 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 purchasing an additional 478 shares during the period. Cim Investment Management Inc. raised 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 purchasing an additional 6,399 shares during the period. State of Wyoming raised 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 purchasing an additional 2,492 shares during the period. Public Sector Pension Investment Board raised its holdings in 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 raised its holdings in 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 owned by institutional investors.

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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