AlphaQuest LLC Buys 28,817 Shares of BlackLine $BL

AlphaQuest LLC boosted its holdings in shares of BlackLine (NASDAQ:BL) by 2,881,700.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,818 shares of the technology company’s stock after acquiring 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc lifted its position in BlackLine by 2,460.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock valued at $29,461,000 after acquiring an additional 500,000 shares in the last quarter. Norges Bank bought a new position in BlackLine during the 2nd quarter worth about $19,830,000. Select Equity Group L.P. raised its stake in shares of BlackLine by 112.9% in the 2nd quarter. Select Equity Group L.P. now owns 209,711 shares of the technology company’s stock valued at $11,874,000 after purchasing an additional 111,205 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of BlackLine by 16.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 690,000 shares of the technology company’s stock valued at $36,639,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Sone Capital Management LLC bought a new stake in shares of BlackLine in the second quarter valued at about $5,511,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BL shares. Rosenblatt Securities decreased their target price on shares of BlackLine from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday. Citigroup restated a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. BMO Capital Markets dropped their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a report on Friday, November 7th. Finally, Morgan Stanley increased their price target on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $59.83.

BlackLine Stock Down 0.9%

BL stock opened at $46.47 on Friday. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.02. The business’s 50 day simple moving average is $55.72 and its 200 day simple moving average is $54.29. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $2.76 billion, a PE ratio of 41.86, a PEG ratio of 8.91 and a beta of 0.86.

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

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.