239,237 Shares in BlackLine $BL Purchased by Tejara Capital Ltd

Key Points

• Tejara Capital Ltd purchased 239,237 BlackLine shares worth approximately $6.7 million, representing about 0.41% of the company and 2.8% of the fund’s portfolio. Institutional investors collectively own 95.13% of BlackLine.
• Analyst sentiment remains mixed, with five Buy, eight Hold, and two Sell ratings. The stock has a consensus rating of Hold and an average price target of $40.08.
• BlackLine exceeded quarterly expectations, reporting adjusted EPS of $0.61 versus the $0.57 consensus and revenue of $187.82 million, up 9.1% year over year. Separately, director Mika Yamamoto sold 3,000 shares for $85,440.

Tejara Capital Ltd purchased a new stake in BlackLine (NASDAQ:BL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 239,237 shares of the technology company's stock, valued at approximately $6,715,000. BlackLine makes up about 2.8% of Tejara Capital Ltd's portfolio, making the stock its 13th largest position. Tejara Capital Ltd owned about 0.41% of BlackLine as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new stake in shares of BlackLine during the third quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new stake in BlackLine during the fourth quarter worth $28,000. Optiver Holding B.V. raised its stake in shares of BlackLine by 13,828.6% in the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company's stock valued at $36,000 after buying an additional 968 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of BlackLine in the 4th quarter valued at $40,000. Finally, Leonteq Securities AG lifted its holdings in shares of BlackLine by 1,019.6% during the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company's stock worth $40,000 after acquiring an additional 989 shares during the period. Institutional investors own 95.13% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BL shares. Rosenblatt Securities lowered their target price on shares of BlackLine from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley reiterated an "equal weight" rating and issued a $33.00 price objective (down from $50.00) on shares of BlackLine in a research note on Tuesday, July 21st. Weiss Ratings raised BlackLine from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price target on shares of BlackLine in a research note on Wednesday, May 6th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $70.00 price objective on shares of BlackLine in a report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $40.08.

Insider Activity at BlackLine

In related news, Director Mika Yamamoto sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $28.48, for a total value of $85,440.00. Following the completion of the sale, the director owned 16,692 shares of the company's stock, valued at $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.10% of the stock is owned by company insiders.

BlackLine Price Performance

BlackLine stock opened at $31.92 on Friday. The business's fifty day moving average is $29.33 and its two-hundred day moving average is $32.32. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market cap of $1.86 billion, a P/E ratio of 56.00, a P/E/G ratio of 2.08 and a beta of 0.64. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $186.99 million. During the same quarter in the prior year, the company earned $0.51 EPS. The firm's quarterly revenue 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. Equities research analysts forecast that BlackLine will post 0.98 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source