Charles Schwab Investment Management Inc. Reduces Holdings in BlackLine $BL

Charles Schwab Investment Management Inc. cut its stake in shares of BlackLine (NASDAQ:BL) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 498,801 shares of the technology company’s stock after selling 2,898 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.79% of BlackLine worth $24,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BL. Mariner LLC purchased a new position in BlackLine during the 4th quarter valued at about $263,000. Canada Pension Plan Investment Board grew its holdings in BlackLine by 58.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 38,200 shares of the technology company’s stock worth $2,321,000 after purchasing an additional 14,100 shares during the period. First Trust Advisors LP raised its holdings in BlackLine by 6.6% in the fourth quarter. First Trust Advisors LP now owns 456,038 shares of the technology company’s stock worth $27,709,000 after buying an additional 28,310 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in BlackLine by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,831 shares of the technology company’s stock worth $43,858,000 after buying an additional 58,365 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in BlackLine by 4.5% in the fourth quarter. MetLife Investment Management LLC now owns 34,812 shares of the technology company’s stock worth $2,115,000 after buying an additional 1,509 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Price Performance

NASDAQ BL opened at $52.23 on Thursday. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25. The firm has a market capitalization of $3.23 billion, a P/E ratio of 40.49, a PEG ratio of 8.51 and a beta of 0.91. 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 50-day moving average price of $54.63 and a 200-day moving average price of $52.31.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The firm had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter 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. Equities research analysts anticipate that BlackLine will post 0.9 earnings per share for the current year.

Insider Buying and Selling at BlackLine

In other news, CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer directly owned 25,235 shares of the company’s stock, valued at $1,391,457.90. The trade was a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BL. Morgan Stanley lifted their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. DA Davidson reaffirmed a “neutral” rating and set a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. Piper Sandler raised their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Raymond James Financial raised shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a report on Tuesday, July 29th. Finally, BMO Capital Markets raised their price target on shares of BlackLine from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, BlackLine currently has a consensus rating of “Hold” and an average target price of $61.08.

BlackLine Company 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.