The Manufacturers Life Insurance Company Takes Position in BlackLine $BL

The Manufacturers Life Insurance Company acquired a new position in shares of BlackLine (NASDAQ:BL) in the second quarter, Holdings Channel reports. The firm acquired 24,870 shares of the technology company’s stock, valued at approximately $698,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC bought a new stake in BlackLine during the third quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in BlackLine in the fourth quarter worth about $28,000. Optiver Holding B.V. lifted its position in shares of BlackLine by 13,828.6% during the first quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock valued at $36,000 after buying an additional 968 shares during the last quarter. Leonteq Securities AG lifted its position in shares of BlackLine by 1,019.6% during the first quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock valued at $40,000 after buying an additional 989 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of BlackLine by 306.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company’s stock valued at $67,000 after buying an additional 920 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Michelle D. Stalick sold 780 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $33.65, for a total value of $26,247.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Therese Tucker sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was 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 approximately $12,194,561.72. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.10% of the stock is owned by insiders.

BlackLine Stock Performance

BL opened at $32.71 on Monday. BlackLine has a 52-week low of $24.70 and a 52-week high of $59.57. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12. The company has a market cap of $1.90 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66. The firm’s 50-day moving average price is $30.47 and its 200-day moving average price is $31.54.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The company had revenue of $187.82 million during the quarter, compared to analysts’ expectations of $186.99 million. During the same period last year, the business earned $0.51 EPS. BlackLine’s revenue for the quarter 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. As a group, equities analysts anticipate that BlackLine will post 0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of BlackLine in a research report on Wednesday, August 5th. DA Davidson set a $30.00 target price on shares of BlackLine in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Bank of America started coverage on BlackLine in a research report on Tuesday, May 12th. They set an “underperform” rating and a $26.00 price target on the stock. Finally, Piper Sandler decreased their price objective on BlackLine from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $40.08.

BlackLine 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.