P Schoenfeld Asset Management LP Acquires New Holdings in BlackLine $BL

P Schoenfeld Asset Management LP bought a new position in BlackLine (NASDAQ:BL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,500 shares of the technology company’s stock, valued at approximately $603,505,000. BlackLine comprises approximately 0.2% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 24th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BlackLine by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company’s stock valued at $1,679,000 after purchasing an additional 1,814 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of BlackLine by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock worth $7,978,000 after buying an additional 7,228 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of BlackLine by 28.1% during the 1st quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock worth $1,253,000 after buying an additional 5,682 shares during the period. Strs Ohio acquired a new position in BlackLine in the 1st quarter valued at $82,000. Finally, Invesco Ltd. grew its stake in BlackLine by 36.6% in the 2nd quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock valued at $13,321,000 after buying an additional 63,068 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Performance

Shares of BlackLine stock opened at $31.83 on Monday. The company’s fifty day simple moving average is $29.39 and its 200-day simple moving average is $32.21. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 55.84, a PEG ratio of 2.11 and a beta of 0.64. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a 1 year low of $24.70 and a 1 year high of $59.57.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The firm had revenue of $187.82 million during the quarter, compared to analysts’ expectations of $186.99 million. During the same period in the prior year, the company earned $0.51 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, sell-side analysts expect that BlackLine will post 0.98 EPS for the current year.

Insider Transactions at BlackLine

In other news, Director Mika Yamamoto sold 3,000 shares of BlackLine stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $28.48, for a total transaction of $85,440.00. Following the sale, the director owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BL has been the topic of several recent analyst reports. Citizens Jmp reiterated a “market outperform” rating and issued a $70.00 target price on shares of BlackLine in a report on Tuesday, April 28th. Wall Street Zen cut shares of BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Rosenblatt Securities lowered their price target on BlackLine from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Bank of America began coverage on BlackLine in a research note on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price objective on the stock. Finally, Truist Financial cut their price objective on BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $40.08.

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.