First Manhattan CO. LLC. Raises Position in BlackLine $BL

First Manhattan CO. LLC. lifted its stake in BlackLine (NASDAQ:BL) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,428,604 shares of the technology company’s stock after buying an additional 340,606 shares during the period. First Manhattan CO. LLC.’s holdings in BlackLine were worth $134,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Cinctive Capital Management LP boosted its position in shares of BlackLine by 30.5% in the fourth quarter. Cinctive Capital Management LP now owns 199,544 shares of the technology company’s stock worth $11,033,000 after buying an additional 46,688 shares during the period. Boothbay Fund Management LLC boosted its position in shares of BlackLine by 8.4% in the fourth quarter. Boothbay Fund Management LLC now owns 4,555 shares of the technology company’s stock worth $252,000 after buying an additional 352 shares during the period. Nexpoint Asset Management L.P. purchased a new stake in shares of BlackLine in the fourth quarter worth about $1,960,000. AQR Capital Management LLC boosted its position in shares of BlackLine by 20.5% in the fourth quarter. AQR Capital Management LLC now owns 12,409 shares of the technology company’s stock worth $686,000 after buying an additional 2,107 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of BlackLine in the fourth quarter worth about $240,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Transactions at BlackLine

In related news, Director Mika Yamamoto sold 3,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total value of $85,440.00. Following the completion of the transaction, the director owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory Hughes sold 1,637 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.25, for a total value of $49,519.25. Following the completion of the transaction, the director directly owned 7,755 shares of the company’s stock, valued at $234,588.75. This represents a 17.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

BL has been the subject of several analyst reports. Rosenblatt Securities decreased their target price on BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BlackLine in a research report on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 target price on shares of BlackLine in a research report on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on BlackLine in a research report on Wednesday, May 6th. Finally, Bank of America initiated coverage on BlackLine in a research report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, BlackLine presently has an average rating of “Hold” and an average target price of $43.67.

BlackLine Trading Down 4.6%

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

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.BlackLine’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. Sell-side analysts forecast that BlackLine will post 1.1 EPS 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.