Thomas Unterman Sells 910 Shares of BlackLine (NASDAQ:BL) Stock

BlackLine (NASDAQ:BL) Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $55.23, for a total value of $50,259.30. Following the completion of the transaction, the director directly owned 45,450 shares in the company, valued at $2,510,203.50. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Thomas Unterman also recently made the following trade(s):

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Thursday, August 28th, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Monday, July 21st, Thomas Unterman sold 885 shares of BlackLine stock. The shares were sold at an average price of $56.70, for a total value of $50,179.50.

BlackLine Trading Down 2.5%

NASDAQ:BL opened at $52.48 on Friday. The business’s 50-day moving average is $53.60 and its two-hundred day moving average is $52.39. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The firm has a market capitalization of $3.25 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 8.83 and a beta of 0.95.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. During the same period last year, the company posted $0.58 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Research analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of BlackLine

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in BlackLine in the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in BlackLine in the second quarter valued at approximately $33,000. Huntington National Bank boosted its stake in BlackLine by 57.5% in the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $70,000 after acquiring an additional 451 shares during the period. Osaic Holdings Inc. boosted its stake in BlackLine by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company’s stock valued at $87,000 after acquiring an additional 478 shares during the period. Finally, Strs Ohio acquired a new position in BlackLine in the first quarter valued at approximately $82,000. 95.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on BL shares. BMO Capital Markets lifted their target price on BlackLine from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Citigroup reaffirmed a “buy” rating and set a $67.00 target price (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $56.00 target price on shares of BlackLine in a research report on Wednesday, August 6th. Zacks Research raised BlackLine to a “strong sell” rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald started coverage on BlackLine in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $58.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.58.

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.