BlackLine (NASDAQ:BL) Director Thomas Unterman Sells 885 Shares

BlackLine (NASDAQ:BL) Director Thomas Unterman sold 885 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.70, for a total value of $50,179.50. Following the completion of the sale, the director owned 44,565 shares of the company’s stock, valued at approximately $2,526,835.50. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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.

BlackLine Trading Down 1.0%

BlackLine stock opened at $53.81 on Thursday. The stock has a 50-day moving average of $53.67 and a two-hundred day moving average of $52.36. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. BlackLine has a one year low of $40.82 and a one year high of $66.25. The stock has a market cap of $3.33 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $170.87 million. During the same period last year, the business 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. On average, research analysts anticipate that BlackLine will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BL shares. Zacks Research raised BlackLine to a “strong sell” rating in a report on Friday, August 8th. Morgan Stanley increased their price objective on BlackLine from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. BMO Capital Markets increased their price objective on BlackLine from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Truist Financial increased their price objective on BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Finally, Citigroup reissued a “buy” rating and issued a $67.00 price objective (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $60.58.

Institutional Trading of BlackLine

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

About BlackLine

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.