BlackLine $BL Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC decreased its position in shares of BlackLine (NASDAQ:BL) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,066,770 shares of the technology company’s stock after selling 12,968 shares during the quarter. BlackLine accounts for approximately 1.8% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Conestoga Capital Advisors LLC owned 3.34% of BlackLine worth $109,745,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Geneva Capital Management LLC raised its position in BlackLine by 5.6% during the 2nd quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock worth $52,335,000 after buying an additional 49,292 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of BlackLine by 2,460.0% in the second quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock worth $29,461,000 after acquiring an additional 500,000 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of BlackLine by 10.9% during the second quarter. Ameriprise Financial Inc. now owns 482,790 shares of the technology company’s stock worth $27,336,000 after purchasing an additional 47,469 shares during the last quarter. Norges Bank acquired a new position in BlackLine during the second quarter valued at $19,830,000. Finally, Marshall Wace LLP boosted its holdings in BlackLine by 12.4% in the second quarter. Marshall Wace LLP now owns 340,177 shares of the technology company’s stock valued at $19,261,000 after purchasing an additional 37,538 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Activity

In other news, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the sale, the director owned 41,835 shares of the company’s stock, valued at $2,300,925. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by company insiders.

BlackLine Stock Up 2.5%

Shares of BL opened at $56.59 on Monday. The firm has a market cap of $3.37 billion, a P/E ratio of 50.98, a PEG ratio of 10.75 and a beta of 0.86. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The stock’s 50 day moving average is $56.51 and its two-hundred day moving average is $54.69. 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 (NASDAQ:BL) last announced its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BL shares. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective (down previously from $64.00) on shares of BlackLine in a research note on Friday, November 7th. Baird R W cut BlackLine from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a report on Monday, December 29th. BMO Capital Markets lowered their price objective on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research report on Friday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of BlackLine in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.