BlackLine $BL Shares Bought by First Manhattan CO. LLC.

First Manhattan CO. LLC. raised its stake in BlackLine (NASDAQ:BL) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,428,604 shares of the technology company’s stock after acquiring an additional 340,606 shares during the quarter. First Manhattan CO. LLC. owned approximately 4.08% of BlackLine worth $134,278,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of BlackLine in the fourth quarter worth $80,787,000. Engaged Capital LLC raised its holdings in shares of BlackLine by 138.8% in the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock worth $59,913,000 after acquiring an additional 629,825 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BlackLine by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 882,078 shares of the technology company’s stock worth $48,776,000 after acquiring an additional 23,943 shares during the last quarter. First Trust Advisors LP increased its stake in BlackLine by 5.5% in the third quarter. First Trust Advisors LP now owns 513,891 shares of the technology company’s stock valued at $27,288,000 after purchasing an additional 26,699 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in BlackLine by 10.9% in the second quarter. Ameriprise Financial Inc. now owns 482,790 shares of the technology company’s stock valued at $27,336,000 after purchasing an additional 47,469 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BL. Truist Financial dropped their target price on BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Piper Sandler upped their target price on BlackLine from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Citigroup dropped their target price on BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Morgan Stanley dropped their target price on BlackLine from $68.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BlackLine in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.67.

BlackLine Stock Performance

BlackLine stock opened at $26.80 on Thursday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 62.33 and a beta of 0.66. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18. The stock has a fifty day moving average price of $29.77 and a 200 day moving average price of $40.79. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57.

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

Insider Activity

In other BlackLine news, Director Mika Yamamoto sold 3,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the sale, the director directly owned 16,692 shares in the company, valued at $475,388.16. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory Hughes sold 1,637 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $30.25, for a total value of $49,519.25. Following the sale, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. This represents 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. Corporate insiders own 9.10% of the company’s stock.

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.