BlackLine $BL Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its position in BlackLine (NASDAQ:BL) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 720,617 shares of the technology company’s stock after selling 58,504 shares during the period. Riverbridge Partners LLC’s holdings in BlackLine were worth $38,265,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in BlackLine by 9.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company’s stock worth $148,000 after acquiring an additional 225 shares during the period. Two Sigma Securities LLC boosted its holdings in shares of BlackLine by 4.7% during the second quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock worth $377,000 after purchasing an additional 301 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of BlackLine by 3.8% during the first quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company’s stock worth $405,000 after purchasing an additional 305 shares during the last quarter. Atria Investments Inc grew its position in shares of BlackLine by 5.7% in the second quarter. Atria Investments Inc now owns 5,897 shares of the technology company’s stock valued at $334,000 after purchasing an additional 316 shares during the period. Finally, Ceera Investments LLC increased its stake in BlackLine by 2.3% in the second quarter. Ceera Investments LLC now owns 18,844 shares of the technology company’s stock valued at $1,067,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Stock Performance

BL opened at $57.84 on Monday. The business has a 50 day moving average price of $55.48 and a two-hundred day moving average price of $54.65. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 52.11, a price-to-earnings-growth ratio of 13.76 and a beta of 0.88. 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 issued its quarterly 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. The company had revenue of $178.29 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Research analysts predict that BlackLine will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BL has been the subject of several recent analyst reports. Baird R W cut BlackLine from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Zacks Research raised BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Rosenblatt Securities assumed coverage on BlackLine in a report on Tuesday, December 2nd. They issued a “buy” rating and a $65.00 price target for the company. Morgan Stanley lifted their price target on shares of BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of BlackLine in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.23.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction that occurred 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 transaction, the director owned 41,835 shares in the company, valued at approximately $2,300,925. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.