Bank of America Corp DE Sells 39,404 Shares of BlackLine $BL

Key Points

• Bank of America reduced its BlackLine position by 4.1%, selling 39,404 shares and retaining 914,813 shares valued at approximately $33.8 million. Institutional investors collectively own 95.13% of the company.
• BlackLine reported quarterly EPS of $0.61, exceeding estimates of $0.57, while revenue reached $187.82 million, up 9.1% year over year. The company issued fiscal 2026 EPS guidance of $2.47–$2.54.
• BlackLine shares opened at $30.53, near the lower end of their 52-week range, while analysts maintained a consensus “Hold” rating with an average price target of $40.08.

Bank of America Corp DE lowered its position in shares of BlackLine (NASDAQ:BL - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 914,813 shares of the technology company's stock after selling 39,404 shares during the quarter. Bank of America Corp DE owned 1.56% of BlackLine worth $33,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BL. California State Teachers Retirement System raised its stake in shares of BlackLine by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 62,541 shares of the technology company's stock worth $2,314,000 after purchasing an additional 11,706 shares during the period. Engaged Capital LLC increased its stake in shares of 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 last quarter. Hawk Ridge Capital Management LP increased its stake in shares of 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 last quarter. Quantinno Capital Management LP raised its holdings in shares of BlackLine by 196.2% in the 1st quarter. Quantinno Capital Management LP now owns 41,647 shares of the technology company's stock worth $1,541,000 after purchasing an additional 27,586 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of BlackLine by 7.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 115,536 shares of the technology company's stock worth $4,275,000 after purchasing an additional 8,359 shares during the period. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Down 2.6%

BL opened at $30.53 on Friday. The stock has a market cap of $1.77 billion, a PE ratio of 53.56, a P/E/G ratio of 2.08 and a beta of 0.64. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57. The business's fifty day simple moving average is $29.12 and its 200 day simple moving average is $33.00.

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. The firm had revenue of $187.82 million during the quarter, compared to analyst estimates of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. 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, research analysts expect that BlackLine will post 0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James Financial reissued an "outperform" rating and set a $50.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. Piper Sandler dropped their price target on BlackLine from $37.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. 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. Rosenblatt Securities decreased their price objective on BlackLine from $46.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Finally, DA Davidson set a $30.00 price objective on BlackLine in a research note on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.08.

Insider Activity at BlackLine

In other BlackLine news, Director Mika Yamamoto sold 3,000 shares of BlackLine stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $28.48, for a total transaction of $85,440.00. Following the transaction, the director directly owned 16,692 shares of the company's stock, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Hughes sold 1,637 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.25, for a total transaction of $49,519.25. Following the completion of the sale, the director owned 7,755 shares of the company's stock, valued at approximately $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. 9.10% of the stock is owned by corporate insiders.

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.

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