Bank of Montreal Can Has $11.07 Million Stock Position in BlackLine $BL

Bank of Montreal Can cut its holdings in shares of BlackLine (NASDAQ:BL) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,579 shares of the technology company’s stock after selling 23,167 shares during the period. Bank of Montreal Can owned about 0.31% of BlackLine worth $11,074,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of BlackLine by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 313,527 shares of the technology company’s stock worth $15,181,000 after buying an additional 8,496 shares in the last quarter. Bank of New York Mellon Corp grew its position in BlackLine by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 571,054 shares of the technology company’s stock valued at $27,650,000 after acquiring an additional 12,057 shares during the last quarter. Xponance Inc. grew its position 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 acquiring an additional 280 shares during the last quarter. New York State Common Retirement Fund raised its stake in BlackLine by 7.8% during the first quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company’s stock worth $7,702,000 after acquiring an additional 11,549 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of BlackLine by 1.6% in the first quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company’s stock worth $870,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 910 shares of the company’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 sale, the director owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $54.03, for a total value of $35,875.92. Following the sale, the chief accounting officer owned 23,830 shares of the company’s stock, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,394 shares of company stock worth $186,026. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BlackLine in a report on Wednesday, October 8th. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. BMO Capital Markets dropped their price target on BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of BlackLine in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.50.

BlackLine Trading Down 5.7%

NASDAQ BL opened at $53.58 on Friday. The firm has a market capitalization of $3.32 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 8.79 and a beta of 1.02. The business’s 50-day moving average price is $53.37 and its two-hundred day moving average price is $53.73. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, hitting 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 return on equity of 13.68% and a net margin of 11.07%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. 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 expect that BlackLine will post 0.9 EPS for the current 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.