Hawk Ridge Capital Management LP Has $69.96 Million Holdings in BlackLine $BL

Hawk Ridge Capital Management LP grew its holdings in BlackLine (NASDAQ:BL) by 26.3% in the 1st quarter, Holdings Channel reports. The fund owned 1,890,823 shares of the technology company’s stock after purchasing an additional 393,192 shares during the quarter. BlackLine comprises 2.5% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 14th biggest holding. Hawk Ridge Capital Management LP’s holdings in BlackLine were worth $69,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in BlackLine during the fourth quarter worth $80,787,000. Engaged Capital LLC boosted its holdings in BlackLine by 138.8% in the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after purchasing an additional 629,825 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in BlackLine in the 1st quarter worth $17,335,000. Teacher Retirement System of Texas grew its position in BlackLine by 5,776.8% in the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock worth $26,300,000 after purchasing an additional 467,571 shares during the last quarter. Finally, Potrero Capital Research LLC bought a new position in shares of BlackLine during the 4th quarter worth about $20,488,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BL. BMO Capital Markets increased 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. Raymond James Financial restated an “outperform” rating and set a $50.00 price target on shares of BlackLine in a research note on Wednesday, May 6th. Citigroup cut their price target on BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Wall Street Zen lowered BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Rosenblatt Securities cut their target price on BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.83.

BlackLine Stock Performance

NASDAQ:BL opened at $30.66 on Tuesday. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $1.80 billion, a PE ratio of 71.30 and a beta of 0.66. The firm has a 50-day moving average price of $28.67 and a 200 day moving average price of $35.14.

BlackLine (NASDAQ:BL) last announced 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 firm 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% compared to the same quarter last year. During the same quarter last year, the company 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. Research analysts anticipate that BlackLine will post 1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mika Yamamoto sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was 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 $475,388.16. This trade represents a 15.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Hughes sold 1,637 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $30.25, for a total value of $49,519.25. Following the completion of the sale, the director directly owned 7,755 shares in the company, valued at approximately $234,588.75. This represents a 17.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.10% of the company’s stock.

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.