BlackLine (NASDAQ:BL) Director Sells 70,000 Shares of Stock

BlackLine (NASDAQ:BL) Director Therese Tucker sold 70,000 shares of the firm’s 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 sale, the director owned 381,557 shares in the company, 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 legal filing with the SEC, which can be accessed through this link.

BlackLine Stock Performance

Shares of BlackLine stock traded down $0.31 during trading on Wednesday, hitting $31.32. 407,462 shares of the stock were exchanged, compared to its average volume of 1,229,016. The stock’s fifty day moving average is $29.53 and its 200 day moving average is $32.03. The stock has a market cap of $1.82 billion, a PE ratio of 54.95, a P/E/G ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $187.82 million for the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. BlackLine’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, sell-side analysts anticipate that BlackLine will post 0.98 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America started coverage on BlackLine in a report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price objective for the company. Robert W. Baird set a $35.00 price target on BlackLine in a research report on Wednesday, August 5th. Citizens Jmp reissued a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a research note on Tuesday, April 28th. Wall Street Zen cut shares of BlackLine from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, DA Davidson set a $30.00 target price on BlackLine in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.08.

Hedge Funds Weigh In On BlackLine

Several large investors have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new position in shares of BlackLine in the 3rd quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new stake in BlackLine during the fourth quarter valued at approximately $28,000. Optiver Holding B.V. boosted its holdings in BlackLine by 13,828.6% during the first quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock worth $36,000 after buying an additional 968 shares in the last quarter. Leonteq Securities AG boosted its holdings in BlackLine by 1,019.6% during the first quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock worth $40,000 after buying an additional 989 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in BlackLine by 306.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company’s stock worth $67,000 after buying an additional 920 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.