BlackLine (NASDAQ:BL) Trading Down 6.2% – Here’s What Happened

Shares of BlackLine (NASDAQ:BL) were down 6.2% during trading on Wednesday . The stock traded as low as $27.41 and last traded at $27.5470. Approximately 289,103 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,244,455 shares. The stock had previously closed at $29.36.

Analyst Ratings Changes

A number of research analysts have weighed in on BL shares. BMO Capital Markets increased their price target on BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded BlackLine from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, July 13th. Piper Sandler upped their target price on BlackLine from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded BlackLine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $33.00 price target (down from $50.00) on shares of BlackLine in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.83.

BlackLine Stock Performance

The company has a market cap of $1.61 billion, a PE ratio of 63.81 and a beta of 0.66. The stock’s 50 day simple moving average is $28.62 and its two-hundred day simple moving average is $35.50. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The business had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. 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, research analysts anticipate 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 BlackLine stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total value of $85,440.00. Following the transaction, the director directly owned 16,692 shares of the company’s stock, valued at $475,388.16. The trade was a 15.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory Hughes sold 1,637 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $30.25, for a total value of $49,519.25. Following the sale, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. The trade was a 17.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On BlackLine

Several institutional investors have recently bought and sold shares of BL. First Manhattan CO. LLC. raised its stake in shares of BlackLine by 16.3% in the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock valued at $134,278,000 after acquiring an additional 340,606 shares during the period. Hawk Ridge Capital Management LP boosted its position in BlackLine by 26.3% during 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 period. Norges Bank purchased a new stake in BlackLine during the 4th quarter worth $80,787,000. Engaged Capital LLC boosted its position in BlackLine by 26.2% during the 1st quarter. Engaged Capital LLC now owns 1,367,619 shares of the technology company’s stock worth $50,602,000 after purchasing an additional 284,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in BlackLine by 20.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock valued at $39,354,000 after purchasing an additional 181,577 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.