Yorktown Management & Research Co Inc Purchases New Position in BlackLine $BL

Yorktown Management & Research Co Inc purchased a new stake in BlackLine (NASDAQ:BL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,400 shares of the technology company’s stock, valued at approximately $589,000.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in BlackLine in the 2nd quarter valued at about $33,000. Strs Ohio bought a new position in BlackLine in the 1st quarter valued at about $82,000. Asset Management One Co. Ltd. lifted its position in shares of BlackLine by 67.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,122 shares of the technology company’s stock worth $103,000 after buying an additional 856 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of BlackLine during the 2nd quarter worth approximately $125,000. Finally, KBC Group NV lifted its position in shares of BlackLine by 33.9% during the 1st quarter. KBC Group NV now owns 2,919 shares of the technology company’s stock worth $141,000 after buying an additional 739 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Activity at BlackLine

In other news, CAO Michelle D. Stalick sold 664 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares in the company, valued at $1,287,534.90. This trade represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00. Following the sale, the director owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. The trade was a 2.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,394 shares of company stock valued at $186,026. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BL has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of BlackLine in a research report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a research report on Wednesday, October 8th. BMO Capital Markets lifted their target price on shares of BlackLine from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Finally, Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.55.

BlackLine Trading Up 1.0%

Shares of BL stock opened at $55.13 on Wednesday. The company has a 50 day moving average of $52.90 and a 200-day moving average of $53.08. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $3.41 billion, a P/E ratio of 42.74, a PEG ratio of 8.95 and a beta of 0.97.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. During the same quarter last year, the business posted $0.58 EPS. BlackLine’s quarterly 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. Sell-side analysts anticipate that BlackLine will post 0.9 earnings per share for the current year.

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.