P Schoenfeld Asset Management LP Takes $603.50 Million Position in BlackLine $BL

P Schoenfeld Asset Management LP bought a new position in BlackLine (NASDAQ:BL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,500 shares of the technology company’s stock, valued at approximately $603,505,000. BlackLine comprises about 0.2% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 24th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tejara Capital Ltd acquired a new stake in shares of BlackLine during the second quarter valued at approximately $6,715,000. Louisiana State Employees Retirement System purchased a new stake in shares of BlackLine in the 1st quarter valued at approximately $821,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 worth $6,259,000 after purchasing an additional 109,019 shares during the period. First Trust Advisors LP boosted its stake in BlackLine by 34.9% in the 1st quarter. First Trust Advisors LP now owns 616,716 shares of the technology company’s stock worth $22,818,000 after purchasing an additional 159,561 shares during the period. Finally, Cinctive Capital Management LP grew its position 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 purchasing an additional 46,688 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $85,440.00. Following the transaction, the director owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.10% of the company’s stock.

BlackLine Price Performance

BL opened at $31.83 on Monday. The stock has a fifty day moving average price of $29.39 and a 200 day moving average price of $32.21. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a 1 year low of $24.70 and a 1 year high of $59.57. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 55.84, a PEG ratio of 2.11 and a beta of 0.64.

BlackLine (NASDAQ:BL) last issued 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 company had revenue of $187.82 million for the quarter, compared to analyst estimates of $186.99 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. Analysts forecast that BlackLine will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on BL shares. Truist Financial cut their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Citigroup lowered their price target on BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Piper Sandler dropped their price target on BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Robert W. Baird set a $35.00 price objective on BlackLine in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of BlackLine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.08.

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.