BlackLine $BL Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of BlackLine (NASDAQ:BL) by 34.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,716 shares of the technology company’s stock after purchasing an additional 159,561 shares during the quarter. First Trust Advisors LP’s holdings in BlackLine were worth $22,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BL. Norges Bank bought a new stake in shares of BlackLine in the 4th quarter worth approximately $80,787,000. Engaged Capital LLC grew its stake in BlackLine by 138.8% during the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock worth $59,913,000 after buying an additional 629,825 shares during the last quarter. Teacher Retirement System of Texas increased its position 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 worth $26,300,000 after buying an additional 467,571 shares during the period. Potrero Capital Research LLC acquired a new stake in BlackLine in the fourth quarter worth $20,488,000. Finally, First Manhattan CO. LLC. increased its position in BlackLine by 16.3% in the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after buying an additional 340,606 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Trading Up 1.5%

NASDAQ:BL opened at $32.43 on Thursday. BlackLine has a 1 year low of $24.70 and a 1 year high of $59.57. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 75.42 and a beta of 0.66. The business has a fifty day moving average of $28.74 and a 200-day moving average of $34.81. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70.

BlackLine (NASDAQ:BL) last issued 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. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The business had revenue of $183.16 million for the quarter, compared to analysts’ expectations of $181.00 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Equities analysts predict that BlackLine will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BL. Wall Street Zen downgraded shares of BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Piper Sandler increased their price objective on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective on shares of BlackLine in a research report on Wednesday, May 6th. Citizens Jmp reissued a “market outperform” rating and set a $70.00 target price on shares of BlackLine in a research note on Tuesday, April 28th. Finally, Citigroup decreased their target price on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and an average price target of $41.83.

Insider Activity

In other BlackLine news, Director Gregory Hughes sold 1,637 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.25, for a total transaction of $49,519.25. Following the transaction, the director owned 7,755 shares of the company’s stock, valued at approximately $234,588.75. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.10% of the stock is currently owned by company insiders.

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.