BlackLine $BL Shares Sold by Barton Investment Management

Barton Investment Management lowered its holdings in BlackLine (NASDAQ:BL) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,852 shares of the technology company’s stock after selling 12,160 shares during the period. BlackLine comprises about 0.9% of Barton Investment Management’s investment portfolio, making the stock its 15th biggest holding. Barton Investment Management owned about 0.26% of BlackLine worth $8,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP grew its position in BlackLine by 9.9% in the 2nd quarter. Advantage Alpha Capital Partners LP now owns 82,601 shares of the technology company’s stock worth $4,677,000 after purchasing an additional 7,470 shares during the last quarter. Marshall Wace LLP boosted its position in shares of BlackLine by 12.4% during the second quarter. Marshall Wace LLP now owns 340,177 shares of the technology company’s stock worth $19,261,000 after buying an additional 37,538 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of BlackLine by 10.4% during the second quarter. Segall Bryant & Hamill LLC now owns 304,460 shares of the technology company’s stock worth $17,239,000 after buying an additional 28,562 shares during the period. Renaissance Group LLC grew its holdings in BlackLine by 30.6% in the 2nd quarter. Renaissance Group LLC now owns 117,480 shares of the technology company’s stock worth $6,652,000 after buying an additional 27,552 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in BlackLine in the 2nd quarter valued at approximately $257,000. 95.13% of the stock is owned by institutional investors.

BlackLine Price Performance

Shares of NASDAQ BL opened at $53.78 on Friday. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average of $56.56 and a two-hundred day moving average of $54.70. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 10.50 and a beta of 0.88.

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

Insider Activity at BlackLine

In other news, Director Thomas Unterman sold 910 shares of the firm’s 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 completion of the sale, the director directly owned 41,835 shares of the company’s stock, valued at $2,300,925. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BL shares. Rosenblatt Securities assumed coverage on BlackLine in a research report on Tuesday, December 2nd. They set a “buy” rating and a $65.00 price target for the company. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Morgan Stanley increased their target price on shares of BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of BlackLine in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BlackLine currently has an average rating of “Hold” and an average price target of $61.23.

BlackLine Company Profile

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.