Handelsbanken Fonder AB Has $752,000 Stock Holdings in BlackLine $BL

Key Points

• Handelsbanken Fonder AB cut its BlackLine stake by 91% in the fourth quarter, selling 136,700 shares and leaving it with 13,600 shares valued at about $752,000.
• Wall Street sentiment is mixed: analysts’ average rating on BlackLine is Hold with an average price target of $43.67, though recent target cuts came from Morgan Stanley and Cantor Fitzgerald.
• BlackLine reported better-than-expected Q1 results, with EPS of $0.56 versus $0.45 expected and revenue of $183.16 million, while also issuing FY 2026 and Q2 2026 guidance.

Handelsbanken Fonder AB lessened its stake in shares of BlackLine (NASDAQ:BL - Free Report) by 91.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,600 shares of the technology company's stock after selling 136,700 shares during the quarter. Handelsbanken Fonder AB's holdings in BlackLine were worth $752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Bessemer Group Inc. lifted its stake in shares of BlackLine by 22.9% during the 3rd quarter. Bessemer Group Inc. now owns 989 shares of the technology company's stock worth $53,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of BlackLine by 3.7% during the 4th quarter. Blue Trust Inc. now owns 7,157 shares of the technology company's stock worth $396,000 after buying an additional 256 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of BlackLine by 15.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the technology company's stock worth $117,000 after buying an additional 301 shares during the last quarter. Two Sigma Securities LLC lifted its stake in shares of BlackLine by 4.7% during the 2nd quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company's stock worth $377,000 after buying an additional 301 shares during the last quarter. Finally, Boothbay Fund Management LLC lifted its stake in shares of BlackLine by 12.1% during the 3rd quarter. Boothbay Fund Management LLC now owns 4,203 shares of the technology company's stock worth $223,000 after buying an additional 454 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analyst Weigh In

BL has been the subject of several analyst reports. Morgan Stanley dropped their price objective on shares of BlackLine from $68.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Piper Sandler lifted their price objective on shares of BlackLine from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Citizens Jmp reiterated a "market outperform" rating and issued a $70.00 price objective on shares of BlackLine in a research note on Tuesday, April 28th. Weiss Ratings cut shares of BlackLine from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 9th. Finally, Cantor Fitzgerald dropped their price objective on shares of BlackLine from $58.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $43.67.

BlackLine Stock Performance

Shares of BL stock opened at $26.84 on Thursday. The firm has a market capitalization of $1.57 billion, a PE ratio of 62.42 and a beta of 0.69. The firm has a fifty day simple moving average of $32.42 and a two-hundred day simple moving average of $43.59. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The firm had revenue of $183.16 million during the quarter, compared to analyst estimates of $181.00 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business's revenue was up 9.7% compared to the same quarter last year. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Analysts forecast that BlackLine will post 1.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Gregory Hughes sold 1,637 shares of the company's 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 completion of the sale, the director owned 7,755 shares in the company, valued at $234,588.75. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.10% of the stock is currently owned by insiders.

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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