BlackLine (NASDAQ:BL) Director Therese Tucker Sells 70,000 Shares

BlackLine (NASDAQ:BL) Director Therese Tucker sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the transaction, the director owned 381,557 shares of the company’s stock, valued at approximately $12,194,561.72. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BlackLine Stock Down 1.0%

Shares of NASDAQ:BL opened at $31.32 on Thursday. The company has a 50 day moving average price of $29.62 and a two-hundred day moving average price of $31.96. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. The company has a market capitalization of $1.82 billion, a PE ratio of 54.95, a PEG ratio of 2.10 and a beta of 0.64. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The company had revenue of $187.82 million for the quarter, compared to analysts’ expectations of $186.99 million. During the same period last year, the firm posted $0.51 earnings per share. 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. Analysts forecast that BlackLine will post 0.98 earnings per share for the current year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Manhattan CO. LLC. boosted its position in BlackLine by 16.3% during the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after acquiring an additional 340,606 shares during the last quarter. ICONIQ Capital LLC acquired a new position in shares of BlackLine during the 2nd quarter worth approximately $58,584,000. Hawk Ridge Capital Management LP increased its holdings in BlackLine by 26.3% during the first quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after buying an additional 393,192 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of BlackLine by 2,636.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,711,316 shares of the technology company’s stock valued at $48,037,000 after purchasing an additional 1,648,775 shares during the period. Finally, Norges Bank bought a new stake in BlackLine in the fourth quarter valued at approximately $80,787,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BL shares. Cantor Fitzgerald restated a “neutral” rating and issued a $36.00 price target on shares of BlackLine in a report on Wednesday, August 5th. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 price objective (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Scotiabank cut BlackLine to an “outperform” rating in a research note on Tuesday, July 21st. Piper Sandler dropped their target price on shares of BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, Truist Financial cut their price target on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.08.

About BlackLine

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.