Renaissance Group LLC Increases Holdings in BlackLine $BL

Renaissance Group LLC grew its holdings in BlackLine (NASDAQ:BL) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 117,480 shares of the technology company’s stock after buying an additional 27,552 shares during the quarter. Renaissance Group LLC owned approximately 0.19% of BlackLine worth $6,652,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BL. Geneva Capital Management LLC lifted its stake in BlackLine by 5.6% in the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock worth $52,335,000 after acquiring an additional 49,292 shares during the period. Yorktown Management & Research Co Inc bought a new stake in shares of BlackLine during the 2nd quarter valued at about $589,000. Royal Bank of Canada increased its position in shares of BlackLine by 15.5% during the first quarter. Royal Bank of Canada now owns 311,247 shares of the technology company’s stock valued at $15,070,000 after buying an additional 41,653 shares during the period. Mutual of America Capital Management LLC raised its stake in BlackLine by 7.9% in the second quarter. Mutual of America Capital Management LLC now owns 126,407 shares of the technology company’s stock worth $7,157,000 after buying an additional 9,270 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in BlackLine in the second quarter worth about $257,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Price Performance

BL opened at $54.21 on Wednesday. The firm has a market cap of $3.22 billion, a PE ratio of 48.84, a P/E/G ratio of 12.49 and a beta of 1.02. The stock has a 50-day moving average price of $53.49 and a 200-day moving average price of $54.15. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.11 million. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. BlackLine’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. Sell-side analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BL. Baird R W lowered BlackLine from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial raised their price objective on BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. DA Davidson raised shares of BlackLine to a “hold” rating in a research report on Monday, November 10th. Finally, Robert W. Baird reissued a “neutral” rating and set a $55.00 price target (down from $64.00) on shares of BlackLine in a research report on Friday, November 7th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BlackLine currently has a consensus rating of “Hold” and an average target price of $60.92.

Insider Buying and Selling

In other news, CAO Michelle D. Stalick sold 664 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the transaction, the chief accounting officer directly owned 23,830 shares of the company’s stock, valued at $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Unterman sold 910 shares of the stock in a transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,394 shares of company stock valued at $186,026. 8.60% of the stock is owned by company insiders.

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.