State of Wyoming Makes New $752,000 Investment in BlackLine $BL

State of Wyoming purchased a new stake in BlackLine (NASDAQ:BL) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 26,784 shares of the technology company’s stock, valued at approximately $752,000.

Several other institutional investors also recently made changes to their positions in BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackLine by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company’s stock worth $1,679,000 after buying an additional 1,814 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in BlackLine by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock valued at $7,978,000 after acquiring an additional 7,228 shares during the last quarter. Intech Investment Management LLC grew its position in BlackLine by 28.1% during the first quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock valued at $1,253,000 after acquiring an additional 5,682 shares during the period. Strs Ohio purchased a new stake in BlackLine during the first quarter valued at about $82,000. Finally, Invesco Ltd. grew its position in BlackLine by 36.6% during the second quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock valued at $13,321,000 after acquiring an additional 63,068 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Hughes sold 1,637 shares of BlackLine stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $30.25, for a total transaction of $49,519.25. Following the sale, the director owned 7,755 shares in the company, valued at $234,588.75. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $28.48, for a total transaction of $85,440.00. Following the transaction, the director directly owned 16,692 shares in the company, valued at approximately $475,388.16. The trade was a 15.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BL. DA Davidson set a $30.00 price objective on BlackLine in a report on Thursday, July 9th. Citigroup decreased their target price on BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Piper Sandler dropped their target price on shares of BlackLine from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price on shares of BlackLine in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.08.

BlackLine Stock Performance

Shares of BL opened at $30.53 on Monday. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57. The stock’s 50-day moving average is $29.12 and its two-hundred day moving average is $32.85. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market cap of $1.77 billion, a PE ratio of 53.56, a P/E/G ratio of 2.02 and a beta of 0.64.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $187.82 million during the quarter, compared to analyst estimates of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. 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 analysts forecast that BlackLine will post 0.98 earnings per share for the current fiscal year.

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.