Cinctive Capital Management LP Increases Stake in BlackLine $BL

Cinctive Capital Management LP increased its holdings in shares of BlackLine (NASDAQ:BL) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,544 shares of the technology company’s stock after buying an additional 46,688 shares during the period. Cinctive Capital Management LP owned about 0.34% of BlackLine worth $11,033,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of BlackLine in the 4th quarter valued at $80,787,000. Engaged Capital LLC lifted its stake in shares of BlackLine by 138.8% in the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock worth $59,913,000 after acquiring an additional 629,825 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of BlackLine by 5,776.8% in the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock worth $26,300,000 after acquiring an additional 467,571 shares during the period. PSquared Asset Management AG acquired a new stake in shares of BlackLine in the 4th quarter worth $16,840,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of BlackLine by 720.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 191,695 shares of the technology company’s stock worth $10,179,000 after acquiring an additional 168,344 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BL shares. Truist Financial reduced their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Raymond James Financial restated an “outperform” rating and issued a $50.00 target price on shares of BlackLine in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of BlackLine from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Robert W. Baird set a $40.00 price target on shares of BlackLine in a report on Wednesday, May 6th. Finally, Rosenblatt Securities cut their price target on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.67.

Insider Activity

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

BlackLine Stock Performance

Shares of BL opened at $26.80 on Thursday. The company has a 50-day simple moving average of $29.77 and a 200-day simple moving average of $40.79. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $1.57 billion, a PE ratio of 62.33 and a beta of 0.66. BlackLine has a 52-week low of $24.70 and a 52-week high of $59.57.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. During the same period last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter 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 research analysts predict that BlackLine will post 1.1 earnings per share for the current fiscal year.

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.