Key Points
- Director Therese Tucker sold 70,000 BlackLine shares at an average price of $31.96, generating approximately $2.24 million. Her remaining stake fell 15.5% to 381,557 shares.
- BlackLine’s latest quarterly results exceeded expectations, with EPS of $0.61 versus a $0.57 consensus and revenue of $187.82 million, up 9.1% year over year.
- Analysts maintain a consensus “Hold” rating, with an average price target of $40.08; five analysts rate the stock Buy, eight Hold, and two Sell.
BlackLine (NASDAQ:BL - Get Free Report) Director Therese Tucker sold 70,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the completion of the transaction, the director directly owned 381,557 shares in the company, valued at approximately $12,194,561.72. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
BlackLine Trading Down 1.0%
Shares of NASDAQ:BL opened at $31.32 on Thursday. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The stock has a market cap of $1.82 billion, a PE ratio of 54.95, a P/E/G ratio of 2.10 and a beta of 0.64. The business has a 50 day moving average of $29.62 and a 200-day moving average of $31.96. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12.
BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $187.82 million for the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. 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 research analysts forecast that BlackLine will post 0.98 earnings per share for the current year.
Analyst Upgrades and Downgrades
BL has been the topic of several recent research reports. Rosenblatt Securities lowered their price objective on BlackLine from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley restated an "equal weight" rating and issued a $33.00 price target (down from $50.00) on shares of BlackLine in a research note on Tuesday, July 21st. Robert W. Baird set a $35.00 price target on shares of BlackLine in a research report on Wednesday, August 5th. Piper Sandler cut their price objective on shares of BlackLine from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Finally, DA Davidson set a $30.00 target price on shares of BlackLine in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.08.
Read Our Latest Stock Report on BL
Institutional Trading of BlackLine
Large investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new position in shares of BlackLine in the third quarter worth $25,000. Kestra Advisory Services LLC acquired a new position in BlackLine in the fourth quarter valued at about $28,000. Optiver Holding B.V. lifted its position 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 purchasing an additional 968 shares during the period. Leonteq Securities AG lifted its position 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 purchasing an additional 989 shares during the period. Finally, Global Retirement Partners LLC grew its stake in BlackLine by 306.7% during 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 owned by institutional investors and hedge funds.
BlackLine Company Profile
(
Get Free Report)
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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