BlackLine (NASDAQ:BL) Shares Down 7.1% – Here’s What Happened

BlackLine (NASDAQ:BL)’s share price dropped 7.1% during mid-day trading on Tuesday . The stock traded as low as $30.45 and last traded at $30.3750. Approximately 352,031 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,215,651 shares. The stock had previously closed at $32.71.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BL shares. Scotiabank downgraded BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. Robert W. Baird set a $35.00 target price on BlackLine in a report on Wednesday, August 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $36.00 target price on shares of BlackLine in a research report on Wednesday, August 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 target price (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Finally, Piper Sandler decreased their price target on BlackLine from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.08.

BlackLine Stock Performance

The firm has a 50 day moving average of $30.57 and a 200-day moving average of $31.51. The stock has a market capitalization of $1.75 billion, a PE ratio of 52.88, a P/E/G ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share 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 analysts’ expectations of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business 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. Research analysts forecast that BlackLine will post 0.98 earnings per share for the current year.

Insider Activity at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 780 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer owned 34,712 shares in the company, valued at $1,168,058.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction on 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 sale, the director directly owned 381,557 shares of the company’s stock, valued at $12,194,561.72. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. raised its holdings in shares of BlackLine by 16.3% during the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after acquiring an additional 340,606 shares in the last quarter. ICONIQ Capital LLC purchased a new position in BlackLine in the second quarter valued at about $58,584,000. Hawk Ridge Capital Management LP increased its position in BlackLine by 26.3% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after purchasing an additional 393,192 shares during the last quarter. California State Teachers Retirement System increased its position in BlackLine by 2,636.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,711,316 shares of the technology company’s stock worth $48,037,000 after purchasing an additional 1,648,775 shares during the last quarter. Finally, Norges Bank acquired a new position in BlackLine in the 4th quarter worth about $80,787,000. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Company 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.