BlackLine $BL Stock Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of BlackLine (NASDAQ:BL) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,812 shares of the technology company’s stock after buying an additional 2,075 shares during the quarter. State of Alaska Department of Revenue’s holdings in BlackLine were worth $1,743,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BL. Hawk Ridge Capital Management LP lifted 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 valued at $94,901,000 after purchasing an additional 1,086,185 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of BlackLine by 106.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company’s stock valued at $57,443,000 after purchasing an additional 611,499 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of BlackLine by 7.2% during the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company’s stock valued at $46,548,000 after purchasing an additional 64,676 shares during the last quarter. Tensile Capital Management LP lifted its holdings 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 valued at $42,197,000 after purchasing an additional 130,488 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its holdings 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 valued at $39,510,000 after purchasing an additional 655,565 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In other news, CAO Michelle D. Stalick sold 664 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares in the company, valued at $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director owned 42,745 shares of the company’s stock, valued at approximately $2,350,975. The trade was a 2.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,369 shares of company stock valued at $186,155. Corporate insiders own 8.60% of the company’s stock.

BlackLine Stock Performance

BL opened at $51.61 on Friday. The firm has a market capitalization of $3.19 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 8.42 and a beta of 0.97. The stock’s 50 day moving average price is $53.07 and its two-hundred day moving average price is $52.53. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data 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. The company had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.BlackLine’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, equities analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

BL has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BlackLine in a report on Saturday, September 27th. BMO Capital Markets increased their price objective on BlackLine from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Morgan Stanley increased their price objective on BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. DA Davidson reissued a “neutral” rating and issued a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th. Finally, Truist Financial increased their price objective on BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.58.

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.