Public Employees Retirement System of Ohio Makes New $1.58 Million Investment in BlackLine $BL

Key Points

• Public Employees Retirement System of Ohio acquired 56,161 BlackLine shares worth approximately $1.58 million, representing about 0.10% of the company. Institutional investors collectively own 95.13% of BlackLine.
• BlackLine insiders recently sold shares, including Director Therese Tucker’s 70,000-share sale for approximately $2.24 million. Corporate insiders own 9.10% of the stock.
• BlackLine reported quarterly EPS of $0.61, beating the $0.57 consensus estimate, while revenue rose 9.1% year over year to $187.82 million. Analysts maintain a consensus “Hold” rating with a $40.08 price target.

Public Employees Retirement System of Ohio bought a new stake in shares of BlackLine (NASDAQ:BL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,161 shares of the technology company's stock, valued at approximately $1,576,000. Public Employees Retirement System of Ohio owned approximately 0.10% of BlackLine at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in BlackLine in the third quarter worth $25,000. Kestra Advisory Services LLC acquired a new stake in shares of BlackLine in the 4th quarter valued at about $28,000. Optiver Holding B.V. increased its position in BlackLine by 13,828.6% in the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company's stock valued at $36,000 after buying an additional 968 shares in the last quarter. Leonteq Securities AG increased its position in BlackLine by 1,019.6% in the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company's stock valued at $40,000 after buying an additional 989 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in BlackLine by 306.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company's stock valued at $67,000 after buying an additional 920 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other BlackLine news, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the transaction, the director directly owned 381,557 shares of the company's stock, valued at $12,194,561.72. The trade was a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michelle D. Stalick sold 780 shares of BlackLine stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $33.65, for a total transaction of $26,247.00. Following the transaction, the chief accounting officer directly owned 34,712 shares in the company, valued at $1,168,058.80. This represents a 2.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BL. Scotiabank lowered BlackLine to an "outperform" rating in a report on Tuesday, July 21st. Bank of America began coverage on BlackLine in a report on Tuesday, May 12th. They set an "underperform" rating and a $26.00 price objective for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $36.00 target price on shares of BlackLine in a research report on Wednesday, August 5th. Robert W. Baird set a $35.00 target price on BlackLine in a report on Wednesday, August 5th. Finally, DA Davidson set a $30.00 price target on shares of BlackLine in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $40.08.

BlackLine Stock Performance

BL opened at $32.71 on Tuesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.72 and a quick ratio of 1.72. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The firm has a market capitalization of $1.90 billion, a PE ratio of 57.39, a P/E/G ratio of 2.17 and a beta of 0.66. The company's 50-day moving average is $30.57 and its 200 day moving average is $31.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $187.82 million during the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. 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 predict that BlackLine will post 0.98 earnings per share for the current fiscal 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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