108,169 Shares in BlackLine $BL Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new position in shares of BlackLine (NASDAQ:BL) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 108,169 shares of the technology company’s stock, valued at approximately $3,036,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackLine by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company’s stock valued at $1,679,000 after purchasing an additional 1,814 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 acquiring an additional 7,228 shares in the last quarter. Intech Investment Management LLC raised its position 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 acquiring an additional 5,682 shares in the last quarter. Strs Ohio acquired a new stake in BlackLine in the first quarter valued at approximately $82,000. Finally, Invesco Ltd. lifted its stake in BlackLine by 36.6% in the second quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock valued at $13,321,000 after acquiring an additional 63,068 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Stock Down 1.6%

BlackLine stock opened at $32.71 on Friday. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.20 and a beta of 0.66. The company’s 50 day simple moving average is $30.47 and its 200 day simple moving average is $31.59.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The business had revenue of $187.82 million for the quarter, compared to analyst estimates of $186.99 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, sell-side analysts anticipate that BlackLine will post 0.98 EPS for the current year.

Insider Transactions at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 780 shares of the company’s 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 transaction, the chief accounting officer directly owned 34,712 shares in the company, valued at approximately $1,168,058.80. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.96, for a total value of $2,237,200.00. Following the transaction, the director directly owned 381,557 shares in the company, valued at $12,194,561.72. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.10% of the company’s stock.

Analysts Set New Price Targets

BL has been the subject of a number of recent research reports. Robert W. Baird set a $35.00 price objective on shares of BlackLine in a report on Wednesday, August 5th. Weiss Ratings raised BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Scotiabank downgraded shares of BlackLine to an “outperform” rating in a research note on Tuesday, July 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $33.00 price target (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Finally, DA Davidson set a $30.00 target price on BlackLine in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.08.

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.