Engaged Capital LLC Acquires 284,000 Shares of BlackLine $BL

Engaged Capital LLC grew its holdings in BlackLine (NASDAQ:BL) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,367,619 shares of the technology company’s stock after purchasing an additional 284,000 shares during the quarter. BlackLine accounts for about 16.7% of Engaged Capital LLC’s holdings, making the stock its 3rd biggest holding. Engaged Capital LLC’s holdings in BlackLine were worth $50,602,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BL. Hawk Ridge Capital Management LP increased its stake in BlackLine by 26.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after buying an additional 393,192 shares during the period. Quantinno Capital Management LP boosted its position in BlackLine by 196.2% in the 1st quarter. Quantinno Capital Management LP now owns 41,647 shares of the technology company’s stock valued at $1,541,000 after buying an additional 27,586 shares during the period. Public Employees Retirement System of Ohio boosted its position in BlackLine by 7.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 115,536 shares of the technology company’s stock valued at $4,275,000 after buying an additional 8,359 shares during the period. Keebeck Wealth Management boosted its position in BlackLine by 13.5% in the 1st quarter. Keebeck Wealth Management now owns 8,664 shares of the technology company’s stock valued at $321,000 after buying an additional 1,032 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of BlackLine in the first quarter worth $17,335,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Trading Up 6.7%

NASDAQ BL opened at $30.66 on Tuesday. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57. The firm has a 50 day moving average of $28.67 and a two-hundred day moving average of $35.14. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $1.80 billion, a PE ratio of 71.30 and a beta of 0.66.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The business had revenue of $183.16 million for the quarter, compared to analyst estimates of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. 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, research analysts expect that BlackLine will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Mika Yamamoto sold 3,000 shares of BlackLine 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 of the company’s stock, valued at $475,388.16. The trade was a 15.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the director directly owned 7,755 shares of the company’s stock, valued at $234,588.75. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BL. Piper Sandler upped their price objective on BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 target price on shares of BlackLine in a report on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on BlackLine in a research note on Wednesday, May 6th. Citigroup reduced their price target on BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $70.00 price objective on shares of BlackLine in a research note on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and a consensus target price of $41.83.

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.