Governors Lane LP Buys Shares of 118,602 BlackLine $BL

Key Points

• Governors Lane LP disclosed a new fourth-quarter stake in BlackLine, buying 118,602 shares worth about $6.56 million.
• BlackLine continues to draw heavy institutional interest, with hedge funds and other investors owning 95.13% of the stock. Several firms added positions in the latest quarter, including Norges Bank and Engaged Capital.
• Despite recent insider sales by directors Gregory Hughes and Mika Yamamoto, BlackLine reported better-than-expected Q1 results, with EPS of $0.56 topping estimates and revenue rising 9.7% year over year.

Governors Lane LP bought a new stake in BlackLine (NASDAQ:BL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 118,602 shares of the technology company's stock, valued at approximately $6,558,000. Governors Lane LP owned approximately 0.20% of BlackLine at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BL. Norges Bank purchased a new position in shares of BlackLine during the 4th quarter worth approximately $80,787,000. Engaged Capital LLC increased its stake in shares of BlackLine by 138.8% during the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company's stock worth $59,913,000 after purchasing an additional 629,825 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of BlackLine by 5,776.8% during the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company's stock worth $26,300,000 after purchasing an additional 467,571 shares in the last quarter. First Manhattan CO. LLC. increased its stake in shares of BlackLine by 16.3% during the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company's stock worth $134,278,000 after purchasing an additional 340,606 shares in the last quarter. Finally, PSquared Asset Management AG purchased a new position in shares of BlackLine during the 4th quarter worth approximately $16,840,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BL shares. Citigroup dropped their price objective on shares of BlackLine from $60.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Robert W. Baird set a $40.00 price objective on shares of BlackLine in a research note on Wednesday, May 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of BlackLine in a research note on Thursday, June 4th. Citizens Jmp reissued a "market outperform" rating and set a $70.00 price objective on shares of BlackLine in a research note on Tuesday, April 28th. Finally, Bank of America started coverage on shares of BlackLine in a research report on Tuesday, May 12th. They set an "underperform" rating and a $26.00 target price on the stock. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

Insiders Place Their Bets

In other BlackLine news, Director Gregory Hughes sold 1,637 shares of BlackLine stock in a transaction 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 owned 7,755 shares in the company, valued at $234,588.75. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of BlackLine stock in a transaction 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 completion of the transaction, the director owned 16,692 shares in the company, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.10% of the stock is owned by company insiders.

BlackLine Stock Down 4.6%

Shares of NASDAQ BL opened at $26.80 on Thursday. BlackLine has a 1 year low of $24.70 and a 1 year high of $59.57. The firm's 50 day moving average price is $29.77 and its 200 day moving average price is $40.79. The firm has a market cap of $1.57 billion, a P/E ratio of 62.33 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 (NASDAQ:BL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. The company had revenue of $183.16 million for the quarter, compared to analyst estimates of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. BlackLine's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, sell-side analysts anticipate that BlackLine will post 1.1 earnings per share for the current 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.

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