Yorktown Management & Research Co Inc Acquires New Stake in BlackLine $BL

Yorktown Management & Research Co Inc acquired a new stake in BlackLine (NASDAQ:BL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,400 shares of the technology company’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Xponance Inc. increased its holdings in BlackLine by 6.8% in the first quarter. Xponance Inc. now owns 4,422 shares of the technology company’s stock valued at $214,000 after purchasing an additional 280 shares during the period. Victory Capital Management Inc. increased its holdings in BlackLine by 1.6% in the first quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company’s stock valued at $870,000 after purchasing an additional 285 shares during the period. Hsbc Holdings PLC increased its holdings in BlackLine by 3.8% in the first quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company’s stock valued at $405,000 after purchasing an additional 305 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in BlackLine in the second quarter valued at $33,000. Finally, Avantax Advisory Services Inc. increased its holdings in BlackLine by 8.1% in the first quarter. Avantax Advisory Services Inc. now owns 8,999 shares of the technology company’s stock valued at $436,000 after purchasing an additional 676 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 910 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the transaction, the director owned 41,835 shares of the company’s stock, valued at $2,300,925. This represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michelle D. Stalick sold 664 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer directly owned 23,830 shares in the company, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,394 shares of company stock worth $186,026 in the last three months. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a report on Tuesday. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Morgan Stanley increased their price target on BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.55.

BlackLine Price Performance

BL stock opened at $55.13 on Wednesday. The stock has a market capitalization of $3.41 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 8.95 and a beta of 0.97. The company’s 50-day moving average is $52.90 and its 200-day moving average is $53.08. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $172.03 million for the quarter, compared to analysts’ expectations of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. Equities research analysts expect that BlackLine will post 0.9 EPS for the current fiscal year.

BlackLine 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.