BlackLine $BL Stock: Redmond Asset Management LLC Reduces Position

Redmond Asset Management LLC trimmed its holdings in BlackLine (NASDAQ:BL) by 65.5% during the third quarter, HoldingsChannel.com reports. The firm owned 14,551 shares of the technology company’s stock after selling 27,653 shares during the period. Redmond Asset Management LLC’s holdings in BlackLine were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. ICONIQ Capital LLC purchased a new position in shares of BlackLine during the 2nd quarter valued at approximately $58,584,000. Hawk Ridge Capital Management LP grew its position in shares of 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 in the last quarter. Engaged Capital LLC increased its stake in shares of BlackLine by 26.2% in the first quarter. Engaged Capital LLC now owns 1,367,619 shares of the technology company’s stock worth $50,602,000 after buying an additional 284,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of BlackLine by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock worth $39,354,000 after buying an additional 181,577 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of BlackLine in the second quarter worth $27,532,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.96, for a total value of $2,237,200.00. Following the completion of the transaction, the director owned 381,557 shares of the company’s stock, valued at $12,194,561.72. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michelle D. Stalick sold 780 shares of BlackLine stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $33.65, for a total transaction of $26,247.00. Following the completion of the transaction, the chief accounting officer directly owned 34,712 shares of the company’s stock, valued at approximately $1,168,058.80. This represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.10% of the company’s stock.

BlackLine Trading Down 0.2%

NASDAQ:BL opened at $33.71 on Friday. The company has a market cap of $1.96 billion, a PE ratio of 59.14, a P/E/G ratio of 2.21 and a beta of 0.74. The business’s 50 day moving average is $30.29 and its two-hundred day moving average is $33.22. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. BlackLine had a return on equity of 20.89% and a net margin of 4.75%. The business had revenue of $187.82 million during the quarter, compared to the consensus estimate of $186.99 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. On average, analysts predict that BlackLine will post 0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BlackLine in a report on Monday. DA Davidson lowered shares of BlackLine from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $30.00 to $23.00 in a report on Monday, September 28th. Robert W. Baird set a $35.00 target price on shares of BlackLine in a research report on Wednesday, August 5th. Piper Sandler cut their target price on shares of BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $36.00 price target on shares of BlackLine in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $39.50.

About BlackLine

BlackLine, Inc provides cloud-based financial operations and accounting automation software for businesses. Its platform is designed to help accounting and finance teams manage, standardize and automate processes that traditionally rely on spreadsheets, manual data entry and disconnected systems.

The company’s products support financial close and consolidation, account reconciliations, transaction matching, intercompany accounting, accounts receivable automation and invoice-to-cash workflows.