BlackLine $BL Shares Acquired by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its position in shares of BlackLine (NASDAQ:BL) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,601 shares of the technology company’s stock after acquiring an additional 7,470 shares during the quarter. BlackLine accounts for approximately 1.3% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 24th biggest holding. Advantage Alpha Capital Partners LP owned approximately 0.13% of BlackLine worth $4,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BL. Parkside Financial Bank & Trust boosted its position in BlackLine by 9.4% during the second quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company’s stock worth $148,000 after purchasing an additional 225 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of BlackLine by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company’s stock worth $870,000 after buying an additional 285 shares during the period. Hsbc Holdings PLC lifted its position in shares of BlackLine by 3.8% during the 1st quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company’s stock valued at $405,000 after buying an additional 305 shares in the last quarter. Atria Investments Inc grew its stake in BlackLine by 5.7% in the 2nd quarter. Atria Investments Inc now owns 5,897 shares of the technology company’s stock valued at $334,000 after acquiring an additional 316 shares during the period. Finally, Ceera Investments LLC grew its stake in BlackLine by 2.3% in the 2nd quarter. Ceera Investments LLC now owns 18,844 shares of the technology company’s stock valued at $1,067,000 after acquiring an additional 430 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Stock Down 0.7%

BL stock opened at $57.35 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 13.64 and a beta of 1.02. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The firm has a 50-day moving average of $53.66 and a two-hundred day moving average of $54.37.

BlackLine (NASDAQ:BL) last issued its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The business had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. As a group, analysts forecast that BlackLine will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BL has been the subject of a number of research analyst reports. Baird R W cut shares of BlackLine from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. DA Davidson upgraded shares of BlackLine to a “hold” rating in a research report on Monday, November 10th. Truist Financial lifted their price objective on BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Morgan Stanley increased their target price on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BlackLine currently has an average rating of “Hold” and an average target price of $60.92.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 910 shares of the company’s stock in a transaction on Monday, October 27th. The stock was 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 41,835 shares in the company, valued at $2,300,925. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

BlackLine 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.