BlackLine (NASDAQ:BL) Director Gregory Hughes Sells 1,637 Shares

BlackLine (NASDAQ:BL) Director Gregory Hughes sold 1,637 shares of BlackLine stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $30.25, for a total transaction of $49,519.25. Following the completion of the transaction, the director directly owned 7,755 shares in the company, valued at $234,588.75. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackLine Price Performance

NASDAQ BL opened at $28.90 on Friday. The firm’s fifty day simple moving average is $32.89 and its two-hundred day simple moving average is $44.28. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The firm has a market capitalization of $1.70 billion, a P/E ratio of 67.21 and a beta of 0.69.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $183.16 million for the quarter, compared to analyst estimates of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company 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. Analysts forecast that BlackLine will post 1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackLine

Several hedge funds have recently added to or reduced their stakes in BL. Norges Bank purchased a new stake in BlackLine in the fourth quarter valued at $80,787,000. Engaged Capital LLC boosted its holdings in BlackLine by 138.8% in the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after purchasing an additional 629,825 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in BlackLine in the first quarter valued at $17,335,000. Teacher Retirement System of Texas boosted its holdings in BlackLine by 5,776.8% in the fourth quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after purchasing an additional 467,571 shares during the last quarter. Finally, Hawk Ridge Capital Management LP boosted its holdings in BlackLine by 26.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock valued at $69,960,000 after purchasing an additional 393,192 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $40.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. Wall Street Zen lowered shares of BlackLine from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. Truist Financial dropped their price objective on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, DA Davidson dropped their price objective on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, BlackLine presently has a consensus rating of “Hold” and an average price target of $43.67.

BlackLine Company 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.