Key Points
- BlackLine CAO Michelle Stalick sold 780 shares at an average price of $33.65, generating $26,247; she retained 34,712 shares after the transaction.
- BlackLine shares opened at $32.98, with the stock down 2.2%. The company recently beat quarterly earnings estimates, reporting $0.61 EPS and $187.82 million in revenue, up 9.1% year over year.
- Institutional investors own 95.13% of BlackLine, while analysts maintain a consensus “Hold” rating with an average price target of $40.08.
BlackLine (NASDAQ:BL - Get Free Report) CAO Michelle Stalick sold 780 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $33.65, for a total value of $26,247.00. Following the completion of the transaction, the chief accounting officer directly owned 34,712 shares of the company's stock, valued at approximately $1,168,058.80. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
BlackLine Trading Down 2.2%
NASDAQ:BL opened at $32.98 on Friday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.72 and a quick ratio of 1.72. The business's 50-day simple moving average is $29.89 and its 200-day simple moving average is $31.89. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The stock has a market capitalization of $1.92 billion, a PE ratio of 57.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.64.
BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $187.82 million for the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. Sell-side analysts expect that BlackLine will post 0.98 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ICONIQ Capital LLC bought a new position in BlackLine during the 2nd quarter worth $58,584,000. California State Teachers Retirement System boosted its position in shares of BlackLine by 2,636.3% in the second quarter. California State Teachers Retirement System now owns 1,711,316 shares of the technology company's stock valued at $48,037,000 after acquiring an additional 1,648,775 shares during the period. Norges Bank bought a new stake in shares of BlackLine in the fourth quarter valued at about $80,787,000. Bank of America Corp DE acquired a new position in shares of BlackLine in the second quarter valued at about $27,532,000. Finally, Engaged Capital LLC grew its stake in shares of BlackLine by 138.8% in the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company's stock valued at $59,913,000 after acquiring an additional 629,825 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BL. Wall Street Zen lowered BlackLine from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Raymond James Financial reiterated an "outperform" rating and issued a $50.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of BlackLine from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Truist Financial lowered their price target on shares of BlackLine from $50.00 to $32.00 and set a "hold" rating on the stock in a research note on Thursday, May 7th. Finally, Morgan Stanley restated an "equal weight" rating and set a $33.00 price objective (down from $50.00) on shares of BlackLine in a research note on Tuesday, July 21st. Five 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $40.08.
Read Our Latest Stock Report on BlackLine
About BlackLine
(
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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