24,870 Shares in BlackLine $BL Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in BlackLine (NASDAQ:BL) during the second quarter, according to its most recent filing with the SEC. The fund purchased 24,870 shares of the technology company’s stock, valued at approximately $698,000.

Several other hedge funds have also bought and sold shares of BL. Two Sigma Securities LLC grew its position in shares of BlackLine by 4.7% during the second quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock valued at $377,000 after purchasing an additional 301 shares in the last quarter. Franklin Resources Inc. boosted its stake in BlackLine by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 5,335 shares of the technology company’s stock valued at $295,000 after buying an additional 319 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in BlackLine by 8.4% during the fourth quarter. Boothbay Fund Management LLC now owns 4,555 shares of the technology company’s stock valued at $252,000 after buying an additional 352 shares during the last quarter. Blue Trust Inc. grew its holdings in BlackLine by 5.0% during the 1st quarter. Blue Trust Inc. now owns 7,516 shares of the technology company’s stock valued at $278,000 after buying an additional 359 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in BlackLine during the 3rd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

BL has been the topic of several recent research reports. Robert W. Baird set a $35.00 price objective on BlackLine in a report on Wednesday, August 5th. Scotiabank cut shares of BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 price objective (down from $50.00) on shares of BlackLine in a research note on Tuesday, July 21st. Finally, Piper Sandler reduced their target price on shares of BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.08.

Insider Activity

In other BlackLine news, Director Therese Tucker sold 70,000 shares of the stock in a transaction dated 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 in the company, valued at $12,194,561.72. This represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michelle D. Stalick sold 780 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were 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 trade represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 9.10% of the company’s stock.

BlackLine Price Performance

Shares of NASDAQ BL opened at $32.71 on Monday. BlackLine has a 52-week low of $24.70 and a 52-week high of $59.57. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.17 and a beta of 0.66. The stock has a 50 day moving average price of $30.47 and a 200 day moving average price of $31.54. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 EPS 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 company had revenue of $187.82 million for the quarter, compared to the consensus estimate of $186.99 million. During the same period last year, the business posted $0.51 EPS. BlackLine’s quarterly revenue was up 9.1% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. Sell-side analysts expect that BlackLine will post 0.98 earnings per share for the current year.

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.