Hawk Ridge Capital Management LP Has $69.96 Million Stake in BlackLine $BL

Hawk Ridge Capital Management LP lifted its stake in BlackLine (NASDAQ:BL) by 26.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,890,823 shares of the technology company’s stock after purchasing an additional 393,192 shares during the quarter. BlackLine accounts for 2.5% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 14th largest position. Hawk Ridge Capital Management LP owned about 3.22% of BlackLine worth $69,960,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BL. First Manhattan CO. LLC. grew its position in BlackLine by 16.3% during the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock valued at $134,278,000 after purchasing an additional 340,606 shares in the last quarter. Norges Bank purchased a new stake in BlackLine in the 4th quarter worth approximately $80,787,000. Engaged Capital LLC boosted its stake in shares of BlackLine by 138.8% during the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after buying an additional 629,825 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of BlackLine by 20.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock valued at $39,354,000 after acquiring an additional 181,577 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of BlackLine by 34.9% during the 1st quarter. First Trust Advisors LP now owns 616,716 shares of the technology company’s stock valued at $22,818,000 after acquiring an additional 159,561 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackLine news, Director Gregory Hughes sold 1,637 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $30.25, for a total transaction of $49,519.25. Following the completion of the transaction, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were 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 of the company’s stock, valued at $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.10% of the company’s stock.

BlackLine Stock Up 6.7%

Shares of BL stock opened at $30.66 on Tuesday. The stock’s 50 day simple moving average is $28.67 and its 200 day simple moving average is $35.14. BlackLine has a twelve month low of $24.70 and a twelve month 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 company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 71.30 and a beta of 0.66.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. Piper Sandler boosted their target price on BlackLine from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Scotiabank lowered BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. Robert W. Baird set a $40.00 price target on BlackLine in a research note on Wednesday, May 6th. Finally, DA Davidson set a $30.00 price target on BlackLine in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, eight 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 $41.83.

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.