BlackLine $BL Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP raised its holdings in shares of BlackLine (NASDAQ:BL) by 30.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 199,544 shares of the technology company’s stock after acquiring an additional 46,688 shares during the quarter. Cinctive Capital Management LP’s holdings in BlackLine were worth $11,033,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of BlackLine during the third quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in shares of BlackLine in the fourth quarter worth $28,000. MAI Capital Management increased its stake in shares of BlackLine by 10,000.0% in the third quarter. MAI Capital Management now owns 707 shares of the technology company’s stock worth $38,000 after buying an additional 700 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of BlackLine in the fourth quarter worth $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of BlackLine in the third quarter worth $38,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a research note on Wednesday, May 6th. DA Davidson dropped their price target on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley lowered their target price on shares of BlackLine from $68.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. BMO Capital Markets boosted their target price on shares of BlackLine from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $70.00 target price on shares of BlackLine in a research note on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.67.

BlackLine Stock Down 4.6%

BlackLine stock opened at $26.80 on Thursday. The company has a 50-day simple moving average of $29.77 and a 200-day simple moving average of $40.79. The firm has a market capitalization of $1.57 billion, a P/E ratio of 62.33 and a beta of 0.66. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70. BlackLine has a one year low of $24.70 and a one year high of $59.57.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 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 analyst estimates of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, equities analysts expect that BlackLine will post 1.1 earnings per share for the current year.

Insider Activity

In other news, Director Mika Yamamoto sold 3,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the transaction, the director owned 16,692 shares in the company, valued at approximately $475,388.16. This represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hughes sold 1,637 shares of the stock in a transaction dated 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 transaction, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. This represents a 17.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.10% of the stock is currently owned by corporate insiders.

About BlackLine

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.