Lavelle Capital LP purchased a new stake in BlackLine (NASDAQ:BL – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,119 shares of the technology company’s stock, valued at approximately $596,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in BlackLine in the 3rd quarter worth about $25,000. Kestra Advisory Services LLC purchased a new position in BlackLine during the 4th quarter valued at about $28,000. Bayforest Capital Ltd bought a new stake in shares of BlackLine during the fourth quarter valued at about $40,000. Leonteq Securities AG increased 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 period. Finally, Global Retirement Partners LLC lifted its holdings in shares of 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 in the last quarter. 95.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on BL shares. Bank of America began coverage on shares of BlackLine in a research report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price objective for the company. Weiss Ratings upgraded shares of BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Robert W. Baird set a $40.00 price target on shares of BlackLine in a research report on Wednesday, May 6th. Wall Street Zen cut shares of BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a research note on Tuesday, April 28th. Five research 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.83.
Insider Buying and Selling at BlackLine
In other BlackLine news, Director Gregory Hughes sold 1,637 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $30.25, for a total transaction of $49,519.25. Following the sale, the director owned 7,755 shares in the company, valued at $234,588.75. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of BlackLine stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total value of $85,440.00. Following the sale, the director directly owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.10% of the stock is currently owned by insiders.
BlackLine Trading Up 2.4%
Shares of BL opened at $31.40 on Friday. BlackLine has a 1-year low of $24.70 and a 1-year high of $59.57. The company has a market capitalization of $1.84 billion, a P/E ratio of 73.02 and a beta of 0.66. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s 50 day simple moving average is $28.82 and its 200 day simple moving average is $34.60.
BlackLine (NASDAQ:BL – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter 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. Sell-side analysts forecast that BlackLine will post 1.1 earnings per share for the current fiscal year.
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.
Further Reading
- Five stocks we like better than BlackLine
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Receive News & Ratings for BlackLine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackLine and related companies with MarketBeat.com's FREE daily email newsletter.
