BlackLine $BL Shares Bought by Andra AP fonden

Andra AP fonden raised its stake in shares of BlackLine (NASDAQ:BL) by 48.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,500 shares of the technology company’s stock after acquiring an additional 29,354 shares during the period. Andra AP fonden owned approximately 0.14% of BlackLine worth $5,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BL. Atlantic Union Bankshares Corp purchased a new position in shares of BlackLine during the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in BlackLine in the second quarter valued at approximately $33,000. Huntington National Bank lifted its stake in BlackLine by 57.5% during the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after purchasing an additional 451 shares in the last quarter. Strs Ohio purchased a new position in shares of BlackLine during the first quarter worth $82,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of BlackLine in the second quarter valued at $125,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BL. DA Davidson reissued a “neutral” rating and set a $56.00 target price on shares of BlackLine in a research note on Wednesday, August 6th. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of BlackLine in a research report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a research note on Wednesday, October 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 price objective (down previously from $64.00) on shares of BlackLine in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.50.

BlackLine Price Performance

BL stock opened at $53.58 on Friday. The business’s 50-day moving average is $53.37 and its two-hundred day moving average is $53.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $3.32 billion, a P/E ratio of 48.27, a P/E/G ratio of 9.32 and a beta of 1.02. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. BlackLine had a return on equity of 13.68% and a net margin of 11.07%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. Analysts anticipate that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Activity at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the sale, the chief accounting officer directly owned 23,830 shares of the company’s stock, valued at approximately $1,287,534.90. This represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction on Monday, October 27th. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00. Following the sale, the director directly owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,394 shares of company stock valued at $186,026 in the last quarter. 8.60% of the stock is currently owned by company insiders.

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.