Handelsbanken Fonder AB Sells 136,700 Shares of BlackLine $BL

Handelsbanken Fonder AB lowered its stake in shares of BlackLine (NASDAQ:BL) by 91.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,600 shares of the technology company’s stock after selling 136,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in BlackLine were worth $752,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BlackLine by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company’s stock valued at $1,679,000 after buying an additional 1,814 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in BlackLine by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock valued at $7,978,000 after purchasing an additional 7,228 shares during the last quarter. Intech Investment Management LLC lifted its holdings in BlackLine by 28.1% during the first quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 5,682 shares during the last quarter. Strs Ohio purchased a new stake in BlackLine during the first quarter valued at about $82,000. Finally, Invesco Ltd. lifted its holdings in BlackLine by 36.6% during the second quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock valued at $13,321,000 after purchasing an additional 63,068 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In related news, Director Gregory Hughes sold 1,637 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 7,755 shares in the company, valued at approximately $234,588.75. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.10% of the company’s stock.

BlackLine Trading Down 7.0%

Shares of BlackLine stock opened at $26.84 on Thursday. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 62.42 and a beta of 0.69. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18. The company’s 50-day moving average price is $32.42 and its 200-day moving average price is $43.59.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The firm had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’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. On average, equities analysts expect that BlackLine will post 1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a report on Tuesday, April 28th. Citigroup dropped their price objective on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Piper Sandler upped their price objective on shares of BlackLine from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Bank of America assumed coverage on shares of BlackLine in a report on Tuesday, May 12th. They set an “underperform” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of BlackLine from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $43.67.

BlackLine 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.