Jefferies Financial Group Inc. Sells 1,138,800 Shares of BlackLine $BL

Key Points

• Jefferies Financial Group cut its BlackLine stake by 99% in the second quarter, selling 1,138,800 shares and retaining 11,200 shares worth approximately $314,000.
• Other institutional investors, including ICONIQ Capital and Tejara Capital, initiated sizable positions, while institutional investors and hedge funds collectively own 95.13% of BlackLine.
• BlackLine exceeded quarterly earnings and revenue expectations, but analyst sentiment remains cautious: the stock has a consensus “Hold” rating with an average price target of $40.08.

Jefferies Financial Group Inc. lowered its stake in BlackLine (NASDAQ:BL - Free Report) by 99.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,200 shares of the technology company's stock after selling 1,138,800 shares during the quarter. Jefferies Financial Group Inc.'s holdings in BlackLine were worth $314,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. ICONIQ Capital LLC bought a new stake in shares of BlackLine during the 2nd quarter worth approximately $58,584,000. Tejara Capital Ltd acquired a new position in BlackLine during the second quarter worth $6,715,000. Louisiana State Employees Retirement System bought a new stake in BlackLine during the first quarter worth $821,000. Northwestern Mutual Wealth Management Co. lifted its stake in BlackLine by 2,609.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 113,197 shares of the technology company's stock valued at $6,259,000 after acquiring an additional 109,019 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of BlackLine in the 2nd quarter valued at about $1,562,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mika Yamamoto sold 3,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $28.48, for a total value of $85,440.00. Following the transaction, the director directly owned 16,692 shares in the company, valued at approximately $475,388.16. This represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michelle D. Stalick sold 780 shares of BlackLine stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $33.65, for a total transaction of $26,247.00. Following the completion of the sale, the chief accounting officer owned 34,712 shares of the company's stock, valued at $1,168,058.80. This trade represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 73,780 shares of company stock valued at $2,348,887. 9.10% of the stock is owned by company insiders.

BlackLine Price Performance

BlackLine stock opened at $33.22 on Tuesday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 58.28, a PEG ratio of 2.19 and a beta of 0.64. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57. The stock's 50 day moving average is $30.03 and its 200-day moving average is $31.74.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The business had revenue of $187.82 million during the quarter, compared to analysts' expectations of $186.99 million. During the same period last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. 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 expect that BlackLine will post 0.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BL shares. Wall Street Zen downgraded shares of BlackLine from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Truist Financial dropped their price objective on BlackLine from $50.00 to $32.00 and set a "hold" rating on the stock in a research note on Thursday, May 7th. Bank of America began coverage on BlackLine in a research note on Tuesday, May 12th. They set an "underperform" rating and a $26.00 target price for the company. Cantor Fitzgerald restated a "neutral" rating and issued a $36.00 price target on shares of BlackLine in a research note on Wednesday, August 5th. Finally, Piper Sandler reduced their price objective on shares of BlackLine from $37.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.08.

BlackLine Company 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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