Schwartz Investment Counsel Inc. Has $6.47 Million Stake in BlackLine $BL

Schwartz Investment Counsel Inc. lowered its stake in shares of BlackLine (NASDAQ:BL) by 74.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,000 shares of the technology company’s stock after selling 515,000 shares during the period. Schwartz Investment Counsel Inc. owned approximately 0.29% of BlackLine worth $6,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System acquired a new stake in BlackLine in the first quarter worth $821,000. Northwestern Mutual Wealth Management Co. increased its position in shares of BlackLine by 2,609.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 113,197 shares of the technology company’s stock valued at $6,259,000 after buying an additional 109,019 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of BlackLine by 5,776.8% in the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after buying an additional 467,571 shares in the last quarter. Norges Bank acquired a new stake in BlackLine during the 4th quarter worth $80,787,000. Finally, Cinctive Capital Management LP raised its stake in BlackLine by 30.5% during the 4th quarter. Cinctive Capital Management LP now owns 199,544 shares of the technology company’s stock worth $11,033,000 after buying an additional 46,688 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BL has been the subject of a number of research analyst reports. Morgan Stanley decreased 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. Piper Sandler increased their target price on BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Truist Financial dropped their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Bank of America assumed coverage on shares of BlackLine in a research note on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price target on the stock. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and an average price target of $43.25.

BlackLine Price Performance

NASDAQ:BL opened at $30.09 on Tuesday. BlackLine has a 52-week low of $24.70 and a 52-week high of $59.57. The company has a market cap of $1.77 billion, a P/E ratio of 69.98 and a beta of 0.66. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50-day simple moving average is $28.53 and its 200 day simple moving average is $37.03.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. During the same period last year, the business posted $0.49 EPS. BlackLine’s revenue was up 9.7% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, sell-side analysts forecast that BlackLine will post 1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackLine news, Director Mika Yamamoto sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $28.48, for a total value of $85,440.00. Following the sale, the director owned 16,692 shares in the company, valued at $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory Hughes sold 1,637 shares of BlackLine 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 transaction, the director directly owned 7,755 shares in the company, valued at $234,588.75. The trade was 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. Company insiders own 9.10% of the company’s stock.

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.