Campbell & CO Investment Adviser LLC Takes $1.10 Million Position in BlackLine $BL

Campbell & CO Investment Adviser LLC purchased a new position in shares of BlackLine (NASDAQ:BL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,735 shares of the technology company’s stock, valued at approximately $1,101,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BL. Parkside Financial Bank & Trust raised its stake in BlackLine by 9.4% in the second quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company’s stock worth $148,000 after buying an additional 225 shares in the last quarter. Blue Trust Inc. raised its position in shares of BlackLine by 3.8% in the 3rd quarter. Blue Trust Inc. now owns 6,901 shares of the technology company’s stock worth $366,000 after acquiring an additional 250 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of BlackLine by 14.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,383 shares of the technology company’s stock valued at $127,000 after purchasing an additional 294 shares during the period. Two Sigma Securities LLC lifted its stake in shares of BlackLine by 4.7% in the 2nd quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock valued at $377,000 after purchasing an additional 301 shares during the period. Finally, Atria Investments Inc boosted its position in shares of BlackLine by 5.7% during the second quarter. Atria Investments Inc now owns 5,897 shares of the technology company’s stock valued at $334,000 after purchasing an additional 316 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction on Monday, October 27th. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the subject of several research reports. Rosenblatt Securities began coverage on shares of BlackLine in a research note on Tuesday, December 2nd. They issued a “buy” rating and a $65.00 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price (down previously from $64.00) on shares of BlackLine in a research note on Friday, November 7th. DA Davidson upgraded shares of BlackLine to a “hold” rating in a report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of BlackLine in a research note on Monday, December 29th. Finally, Morgan Stanley raised their price objective on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BlackLine currently has an average rating of “Hold” and an average price target of $61.23.

BlackLine Price Performance

NASDAQ BL opened at $52.65 on Monday. The business’s fifty day moving average price is $56.31 and its 200-day moving average price is $54.60. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 47.43, a PEG ratio of 10.00 and a beta of 0.86. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52.

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

About BlackLine

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.