Therese Tucker Sells 70,000 Shares of BlackLine (NASDAQ:BL) Stock

BlackLine (NASDAQ:BL) Director Therese Tucker sold 70,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the completion of the sale, the director directly owned 381,557 shares of the company’s stock, valued at $12,194,561.72. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackLine Stock Performance

NASDAQ BL opened at $33.72 on Friday. The company has a 50-day simple moving average of $29.76 and a two-hundred day simple moving average of $31.88. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 2.08 and a beta of 0.64. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 EPS 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 the consensus estimate of $186.99 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company’s quarterly revenue 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. On average, equities analysts forecast that BlackLine will post 0.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BL. BMO Capital Markets lifted their price objective on BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a research report on Wednesday, May 6th. Wall Street Zen downgraded BlackLine from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Rosenblatt Securities cut their target price on BlackLine from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Piper Sandler reduced their price target on BlackLine from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.08.

Institutional Investors Weigh In On BlackLine

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in BlackLine by 2,636.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,711,316 shares of the technology company’s stock valued at $48,037,000 after purchasing an additional 1,648,775 shares during the last quarter. AXQ Capital LP bought a new stake in shares of BlackLine in the 2nd quarter worth $325,000. Empowered Funds LLC purchased a new position in shares of BlackLine in the second quarter worth $220,000. Public Employees Retirement System of Ohio purchased a new position in shares of BlackLine in the second quarter worth $1,576,000. Finally, Bank of America Corp DE bought a new position in shares of BlackLine during the second quarter valued at $27,532,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Company 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.