Renaissance Group LLC Purchases 27,552 Shares of BlackLine $BL

Renaissance Group LLC increased its position in BlackLine (NASDAQ:BL) by 30.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 117,480 shares of the technology company’s stock after acquiring an additional 27,552 shares during the quarter. Renaissance Group LLC’s holdings in BlackLine were worth $6,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BL. Atlantic Union Bankshares Corp purchased a new position in BlackLine in the second quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BlackLine in the 2nd quarter worth approximately $33,000. Huntington National Bank lifted its stake in shares of BlackLine by 57.5% in the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after purchasing an additional 451 shares during the period. Strs Ohio purchased a new position in shares of BlackLine in the first quarter worth approximately $82,000. Finally, Hennessy Advisors Inc. bought a new stake in BlackLine during the second quarter valued at approximately $125,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the topic of several recent research reports. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a research report on Tuesday, October 28th. BMO Capital Markets decreased their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of BlackLine in a research report on Thursday, September 11th. Finally, Morgan Stanley raised their price objective on BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Five investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.92.

BlackLine Trading Up 3.3%

Shares of BL stock opened at $54.21 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a fifty day simple moving average of $53.49 and a two-hundred day simple moving average of $54.15. The firm has a market capitalization of $3.22 billion, a PE ratio of 48.84, a PEG ratio of 12.49 and a beta of 1.02. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25.

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, hitting analysts’ consensus estimates of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.11 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. On average, analysts predict that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the transaction, the director directly owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction 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 approximately $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,394 shares of company stock valued at $186,026. Insiders own 8.60% of the company’s stock.

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.