Bank of Montreal Can Sells 23,167 Shares of BlackLine $BL

Bank of Montreal Can lessened its stake in shares of BlackLine (NASDAQ:BL) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,579 shares of the technology company’s stock after selling 23,167 shares during the quarter. Bank of Montreal Can’s holdings in BlackLine were worth $11,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BL. Ceera Investments LLC raised its stake in BlackLine by 2.3% during the 2nd quarter. Ceera Investments LLC now owns 18,844 shares of the technology company’s stock worth $1,067,000 after buying an additional 430 shares during the period. Geneva Capital Management LLC increased its holdings in shares of BlackLine by 5.6% during the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock valued at $52,335,000 after acquiring an additional 49,292 shares in the last quarter. Atria Investments Inc raised 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 worth $334,000 after purchasing an additional 316 shares during the period. Yorktown Management & Research Co Inc bought a new position in shares of BlackLine in the 2nd quarter worth $589,000. Finally, Redmond Asset Management LLC lifted its holdings in shares of BlackLine by 2.5% in the 2nd quarter. Redmond Asset Management LLC now owns 48,444 shares of the technology company’s stock worth $2,743,000 after purchasing an additional 1,181 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Performance

NASDAQ BL opened at $53.58 on Friday. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a 50-day simple moving average of $53.37 and a 200 day simple moving average of $53.73. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $3.32 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 8.79 and a beta of 1.02.

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 analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 13.68%. The firm had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. On average, research analysts predict that BlackLine will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BL. Citigroup restated a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial raised their price target on shares of BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target (down previously from $64.00) on shares of BlackLine in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of BlackLine in a research note on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $60.50.

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michelle D. Stalick sold 664 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,394 shares of company stock valued at $186,026. 8.60% of the stock is owned by corporate insiders.

BlackLine 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.