First Trust Advisors LP Has $27.59 Million Position in BlackLine $BL

First Trust Advisors LP lessened its holdings in shares of BlackLine (NASDAQ:BL) by 17.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 487,192 shares of the technology company’s stock after selling 105,399 shares during the period. First Trust Advisors LP’s holdings in BlackLine were worth $27,585,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BL. Hawk Ridge Capital Management LP raised its holdings in shares of BlackLine by 124.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock valued at $94,901,000 after buying an additional 1,086,185 shares during the last quarter. First Manhattan CO. LLC. increased its position in BlackLine by 408.7% in the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company’s stock valued at $39,510,000 after acquiring an additional 655,565 shares in the last quarter. Nuveen LLC bought a new position in shares of BlackLine in the first quarter worth about $25,194,000. Ensign Peak Advisors Inc raised 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 last quarter. Finally, Norges Bank acquired a new position in shares of BlackLine during the second quarter worth approximately $19,830,000. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackLine

In related news, Director Thomas Unterman sold 910 shares of the stock in a transaction that occurred 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 sale, the director directly owned 41,835 shares in the company, valued at $2,300,925. This trade represents a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

BlackLine Price Performance

NASDAQ:BL opened at $58.37 on Thursday. The company has a quick ratio of 1.52, a current 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 stock’s fifty day simple moving average is $54.49 and its 200-day simple moving average is $54.55. The firm has a market capitalization of $3.47 billion, a P/E ratio of 52.59, a P/E/G ratio of 13.89 and a beta of 0.88.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 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 business had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm’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. Equities research analysts expect that BlackLine will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BL. DA Davidson raised shares of BlackLine to a “hold” rating in a report on Monday, November 10th. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of BlackLine in a research note on Thursday, September 11th. Morgan Stanley boosted their target price on BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of BlackLine in a report on Monday, December 1st. Finally, Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BlackLine has a consensus rating of “Hold” and an average price target of $61.23.

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.