P Schoenfeld Asset Management LP Makes New Investment in BlackLine $BL

P Schoenfeld Asset Management LP purchased a new stake in BlackLine (NASDAQ:BL) during the second quarter, according to its most recent filing with the SEC. The fund purchased 21,500 shares of the technology company’s stock, valued at approximately $603,505. BlackLine comprises about 0.0% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 24th largest holding.

Other large investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of BlackLine in the third quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new position in shares of BlackLine during the fourth quarter worth $28,000. Optiver Holding B.V. raised its position in shares of BlackLine by 13,828.6% during the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock worth $36,000 after purchasing an additional 968 shares during the period. Leonteq Securities AG grew its stake in shares of BlackLine by 1,019.6% in the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock worth $40,000 after purchasing an additional 989 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of BlackLine by 306.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company’s stock valued at $67,000 after acquiring an additional 920 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Down 3.1%

Shares of BlackLine stock traded down $1.05 during trading on Friday, hitting $32.67. 525,412 shares of the stock traded hands, compared to its average volume of 1,228,766. BlackLine has a twelve month low of $24.70 and a twelve month high of $59.57. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market cap of $1.90 billion, a P/E ratio of 57.32, a PEG ratio of 2.08 and a beta of 0.64. The company has a fifty day moving average price of $29.76 and a two-hundred day moving average price of $31.88.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share 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 firm had revenue of $187.82 million for the quarter, compared to analyst estimates of $186.99 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter 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. Equities research analysts predict that BlackLine will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Therese Tucker sold 70,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $31.96, for a total value of $2,237,200.00. Following the completion of the transaction, the director owned 381,557 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, Director Mika Yamamoto sold 3,000 shares of the 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 transaction, the director directly owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. The trade was a 15.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BL has been the topic of a number of research reports. Weiss Ratings raised shares of BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Piper Sandler lowered their price target on BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Truist Financial cut their price target 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 initiated coverage on shares of BlackLine in a research note on Tuesday, May 12th. They set an “underperform” rating and a $26.00 target price for the company. Finally, Rosenblatt Securities decreased their target price on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.08.

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.