Arrowstreet Capital Limited Partnership Acquires New Shares in BlackLine $BL

Key Points

• Arrowstreet Capital acquired 468,519 BlackLine shares worth approximately $17.3 million, representing about 0.80% of the company. Institutional investors and hedge funds collectively own 95.13% of BlackLine.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $41.83; several firms recently lowered their targets.
• BlackLine exceeded quarterly earnings expectations, reporting $0.56 EPS versus the $0.45 consensus and revenue of $183.16 million, up 9.7% year over year. Two directors recently sold shares, while insiders own 9.10% of the company.

Arrowstreet Capital Limited Partnership bought a new position in BlackLine (NASDAQ:BL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 468,519 shares of the technology company's stock, valued at approximately $17,335,000. Arrowstreet Capital Limited Partnership owned about 0.80% of BlackLine at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BL. First Manhattan CO. LLC. increased its holdings in BlackLine by 16.3% in the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company's stock worth $134,278,000 after buying an additional 340,606 shares during the last quarter. Norges Bank acquired a new stake in BlackLine in the fourth quarter valued at approximately $80,787,000. Engaged Capital LLC lifted its stake in BlackLine by 138.8% in the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company's stock valued at $59,913,000 after acquiring an additional 629,825 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in BlackLine by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company's stock valued at $39,354,000 after acquiring an additional 181,577 shares during the last quarter. Finally, First Trust Advisors LP grew its position in BlackLine by 34.9% in the first quarter. First Trust Advisors LP now owns 616,716 shares of the technology company's stock worth $22,818,000 after acquiring an additional 159,561 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BL has been the topic of several analyst reports. Truist Financial lowered their target price on shares of BlackLine from $50.00 to $32.00 and set a "hold" rating on the stock in a research report on Thursday, May 7th. Citizens Jmp reissued a "market outperform" rating and issued a $70.00 price objective on shares of BlackLine in a research note on Tuesday, April 28th. Morgan Stanley reaffirmed an "equal weight" rating and set a $33.00 target price (down from $50.00) on shares of BlackLine in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of BlackLine from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, DA Davidson set a $30.00 price objective on shares of BlackLine in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $41.83.

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Mika Yamamoto sold 3,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the transaction, the director owned 16,692 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Director Gregory Hughes sold 1,637 shares of BlackLine 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 sale, the director directly owned 7,755 shares in the company, valued at $234,588.75. The trade was a 17.43% decrease in their ownership of the stock. 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.

BlackLine Stock Performance

NASDAQ:BL opened at $30.66 on Friday. The firm's 50-day moving average is $28.77 and its 200-day moving average is $34.63. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 71.30 and a beta of 0.66. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70. 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, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. The firm had revenue of $183.16 million for the quarter, compared to analyst estimates of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Equities research analysts anticipate that BlackLine will post 1.1 earnings per share for the current year.

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.

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