Gagnon Securities LLC Acquires 26,678 Shares of BlackLine $BL

Gagnon Securities LLC increased its stake in shares of BlackLine (NASDAQ:BL) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,919 shares of the technology company’s stock after purchasing an additional 26,678 shares during the period. BlackLine accounts for about 3.0% of Gagnon Securities LLC’s holdings, making the stock its 10th biggest position. Gagnon Securities LLC owned about 0.45% of BlackLine worth $14,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ensign Peak Advisors Inc increased its position in BlackLine by 2,460.0% during the second quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock worth $29,461,000 after buying an additional 500,000 shares in the last quarter. Norges Bank purchased a new stake in BlackLine during the 2nd quarter worth about $19,830,000. Select Equity Group L.P. raised its stake in BlackLine by 112.9% in the 2nd quarter. Select Equity Group L.P. now owns 209,711 shares of the technology company’s stock valued at $11,874,000 after purchasing an additional 111,205 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in BlackLine by 16.9% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 690,000 shares of the technology company’s stock valued at $36,639,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Sone Capital Management LLC acquired a new stake in shares of BlackLine during the 2nd quarter worth about $5,511,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research report on Friday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of BlackLine in a report on Friday, November 7th. Rosenblatt Securities started coverage on BlackLine in a report on Tuesday, December 2nd. They set a “buy” rating and a $65.00 price objective on the stock. DA Davidson upgraded BlackLine to a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.08.

BlackLine Trading Down 9.5%

Shares of BL opened at $46.91 on Friday. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The firm has a market capitalization of $2.79 billion, a P/E ratio of 42.26, a price-to-earnings-growth ratio of 9.84 and a beta of 0.86. 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 stock’s fifty day simple moving average is $55.89 and its 200 day simple moving average is $54.34.

BlackLine (NASDAQ:BL) last posted its quarterly 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. The firm had revenue of $178.29 million during 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%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter 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 research analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

BlackLine 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.