Michelle Stalick Sells 780 Shares of BlackLine (NASDAQ:BL) Stock

BlackLine (NASDAQ:BL) CAO Michelle Stalick sold 780 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $33.65, for a total value of $26,247.00. Following the transaction, the chief accounting officer owned 34,712 shares of the company’s stock, valued at $1,168,058.80. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BlackLine Price Performance

NASDAQ:BL traded down $0.74 on Friday, reaching $32.98. The stock had a trading volume of 1,089,315 shares, compared to its average volume of 1,232,274. BlackLine has a 1-year low of $24.70 and a 1-year high of $59.57. The stock has a fifty day moving average price of $29.76 and a 200-day moving average price of $31.88. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $1.92 billion, a P/E ratio of 57.86, a price-to-earnings-growth ratio of 2.08 and a beta of 0.64.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $187.82 million for the quarter, compared to analyst estimates of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.BlackLine’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $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 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BL shares. Piper Sandler decreased their price target on shares of BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. BMO Capital Markets increased their price objective on BlackLine from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, May 6th. Citigroup lowered their target price on BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of BlackLine in a research report on Wednesday, May 6th. Finally, Truist Financial cut their price target on BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.08.

Hedge Funds Weigh In On BlackLine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ICONIQ Capital LLC bought a new position in shares of BlackLine during the 2nd quarter worth approximately $58,584,000. Tejara Capital Ltd acquired a new stake in BlackLine in the second quarter valued at $6,715,000. Louisiana State Employees Retirement System bought a new position in shares of BlackLine in the 1st quarter valued at about $821,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of BlackLine by 2,609.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 113,197 shares of the technology company’s stock worth $6,259,000 after purchasing an additional 109,019 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in BlackLine by 34.9% in the 1st quarter. First Trust Advisors LP now owns 616,716 shares of the technology company’s stock valued at $22,818,000 after purchasing an additional 159,561 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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.