Geode Capital Management LLC Lowers Holdings in BlackLine $BL

Geode Capital Management LLC reduced its stake in BlackLine (NASDAQ:BL) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,260,644 shares of the technology company’s stock after selling 63,627 shares during the period. Geode Capital Management LLC owned approximately 2.02% of BlackLine worth $71,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in BlackLine in the 2nd quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in BlackLine during the 2nd quarter valued at about $33,000. Huntington National Bank raised its holdings in BlackLine by 57.5% in the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after buying an additional 451 shares during the last quarter. Strs Ohio bought a new position in shares of BlackLine in the first quarter worth approximately $82,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of BlackLine during the second quarter valued at approximately $125,000. 95.13% of the stock is currently owned by institutional investors.

BlackLine Stock Performance

BL stock opened at $54.86 on Friday. 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 has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a market cap of $3.26 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02. The stock’s fifty day moving average price is $53.46 and its 200-day moving average price is $54.25.

BlackLine (NASDAQ:BL) last posted its 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 for the quarter, compared to the consensus estimate of $178.11 million. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.BlackLine’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior 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, equities analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Insider Activity

In related news, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 2,730 shares of company stock valued at $150,150 over the last quarter. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BL. BMO Capital Markets decreased their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a report on Friday, November 7th. Baird R W cut BlackLine from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. DA Davidson raised BlackLine to a “hold” rating in a report on Monday, November 10th. Raymond James Financial raised BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research report on Tuesday, July 29th. Finally, Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.92.

BlackLine Company 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.