Caitong International Asset Management Co. Ltd Purchases Shares of 576 BlackLine $BL

Caitong International Asset Management Co. Ltd acquired a new stake in shares of BlackLine (NASDAQ:BL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 576 shares of the technology company’s stock, valued at approximately $33,000.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings 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 purchasing an additional 41,653 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of BlackLine by 7.9% during the second quarter. Mutual of America Capital Management LLC now owns 126,407 shares of the technology company’s stock valued at $7,157,000 after purchasing an additional 9,270 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of BlackLine by 36.3% during the second quarter. Public Employees Retirement System of Ohio now owns 105,889 shares of the technology company’s stock valued at $5,995,000 after purchasing an additional 28,196 shares during the period. Blue Trust Inc. acquired a new position in shares of BlackLine during the second quarter valued at about $377,000. Finally, Tensile Capital Management LP raised its holdings in shares of BlackLine by 17.6% during the first quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company’s stock valued at $42,197,000 after purchasing an additional 130,488 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction dated 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. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Unterman sold 910 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the transaction, the director directly owned 42,745 shares of the company’s stock, valued at $2,350,975. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,484 shares of company stock valued at $135,976. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BL shares. BMO Capital Markets upped their price objective on shares of BlackLine from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Raymond James Financial upgraded shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Tuesday, July 29th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of BlackLine in a report on Thursday, September 11th. Truist Financial upped their target price on shares of BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.55.

BlackLine Trading Down 0.5%

NASDAQ:BL opened at $52.56 on Monday. 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 firm has a market cap of $3.25 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 8.71 and a beta of 0.97. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25. The firm has a 50-day moving average price of $52.77 and a two-hundred day moving average price of $52.95.

BlackLine (NASDAQ:BL) last posted 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. The firm had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, equities analysts expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

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.