Conestoga Capital Advisors LLC lessened its holdings in BlackLine (NASDAQ:BL – Free Report) by 8.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,685,484 shares of the technology company’s stock after selling 163,513 shares during the period. BlackLine accounts for approximately 1.2% of Conestoga Capital Advisors LLC’s holdings, making the stock its 29th biggest position. Conestoga Capital Advisors LLC’s holdings in BlackLine were worth $62,363,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of BlackLine in the third quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in shares of BlackLine in the fourth quarter worth about $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of BlackLine during the third quarter worth about $38,000. MAI Capital Management grew its position in shares of BlackLine by 10,000.0% during the third quarter. MAI Capital Management now owns 707 shares of the technology company’s stock worth $38,000 after purchasing an additional 700 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in BlackLine during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on BL. Truist Financial lowered their price target on BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. DA Davidson cut their price objective on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Citizens Jmp reiterated a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a research report on Tuesday, April 28th. Rosenblatt Securities lowered their target price on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of BlackLine from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.67.
BlackLine Trading Up 4.9%
Shares of BlackLine stock opened at $29.45 on Thursday. BlackLine has a twelve month low of $24.70 and a twelve month high of $59.57. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The business has a 50-day moving average price of $28.80 and a 200-day moving average price of $38.64. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 68.49 and a beta of 0.66.
BlackLine (NASDAQ:BL – Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Equities research analysts anticipate that BlackLine will post 1.1 EPS for the current fiscal year.
Insider Activity at BlackLine
In other BlackLine news, Director Gregory Hughes sold 1,637 shares of BlackLine stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.25, for a total value of $49,519.25. Following the sale, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $28.48, for a total value of $85,440.00. Following the sale, the director directly owned 16,692 shares in the company, valued at $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.10% of the company’s stock.
BlackLine 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.
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