Norges Bank purchased a new stake in BlackLine (NASDAQ:BL – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,461,152 shares of the technology company’s stock, valued at approximately $80,787,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BlackLine by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company’s stock valued at $1,679,000 after buying an additional 1,814 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in BlackLine by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock valued at $7,978,000 after buying an additional 7,228 shares during the period. Intech Investment Management LLC boosted its position in BlackLine by 28.1% in the 1st quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock valued at $1,253,000 after buying an additional 5,682 shares during the period. Strs Ohio purchased a new position in BlackLine in the 1st quarter valued at approximately $82,000. Finally, Invesco Ltd. boosted its position in BlackLine by 36.6% in the 2nd quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock valued at $13,321,000 after buying an additional 63,068 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Wall Street Analyst Weigh In
BL has been the subject of several recent research reports. Citizens Jmp reissued a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a research report on Tuesday, April 28th. Truist Financial decreased their price target on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Rosenblatt Securities decreased their price target on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Cantor Fitzgerald decreased their price target on shares of BlackLine from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Finally, Weiss Ratings cut shares of BlackLine from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 9th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, BlackLine currently has an average rating of “Hold” and a consensus target price of $43.67.
Insider Activity
In other news, Director Gregory Hughes sold 1,637 shares of BlackLine 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 sale, the director directly owned 7,755 shares of the company’s stock, valued at approximately $234,588.75. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.10% of the company’s stock.
BlackLine Price Performance
BlackLine stock opened at $28.66 on Friday. The stock has a market cap of $1.68 billion, a P/E ratio of 66.65 and a beta of 0.66. The company has a fifty day simple moving average of $31.13 and a 200-day simple moving average of $42.41. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18.
BlackLine (NASDAQ:BL – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $183.16 million during the quarter, compared to analysts’ expectations of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Equities analysts expect 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.
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