BlackLine $BL Stake Raised by AlphaQuest LLC

AlphaQuest LLC grew its holdings in shares of BlackLine (NASDAQ:BL) by 2,881,700.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,818 shares of the technology company’s stock after purchasing an additional 28,817 shares during the period. AlphaQuest LLC’s holdings in BlackLine were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BL. Gagnon Securities LLC grew its position in BlackLine by 10.6% in the third quarter. Gagnon Securities LLC now owns 278,919 shares of the technology company’s stock worth $14,811,000 after buying an additional 26,678 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of BlackLine by 5.9% in the 3rd quarter. New York State Common Retirement Fund now owns 167,756 shares of the technology company’s stock worth $8,908,000 after acquiring an additional 9,300 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of BlackLine by 228.3% in the 3rd quarter. Federated Hermes Inc. now owns 134,524 shares of the technology company’s stock worth $7,143,000 after acquiring an additional 93,544 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of BlackLine during the third quarter worth $2,230,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of BlackLine by 35.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,827 shares of the technology company’s stock valued at $256,000 after purchasing an additional 1,259 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

BlackLine Trading Down 0.9%

NASDAQ:BL opened at $46.47 on Friday. The company’s 50 day moving average is $55.72 and its 200-day moving average is $54.29. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.02. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 8.91 and a beta of 0.86.

BlackLine (NASDAQ:BL) last released its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $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. Equities analysts anticipate that BlackLine will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on BL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a report on Monday, December 29th. BMO Capital Markets reduced their price target on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research report on Friday, November 7th. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley increased their target price on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of BlackLine in a research report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, eight have given 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 $59.83.

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.