Norges Bank Acquires Shares of 1,461,152 BlackLine $BL

Norges Bank purchased a new position in shares of BlackLine (NASDAQ:BL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,461,152 shares of the technology company’s stock, valued at approximately $80,787,000. Norges Bank owned about 2.46% of BlackLine at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of BlackLine by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 858,135 shares of the technology company’s stock worth $45,566,000 after buying an additional 4,708 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of BlackLine by 5.5% during the 3rd quarter. First Trust Advisors LP now owns 513,891 shares of the technology company’s stock worth $27,288,000 after buying an additional 26,699 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of BlackLine by 10.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 482,790 shares of the technology company’s stock worth $27,336,000 after buying an additional 47,469 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of BlackLine by 5,776.8% during the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock worth $26,300,000 after buying an additional 467,571 shares during the last quarter. Finally, Ananym Capital Management LP increased its holdings in shares of BlackLine by 37.5% during the 3rd quarter. Ananym Capital Management LP now owns 442,511 shares of the technology company’s stock worth $23,497,000 after buying an additional 120,590 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $49,519.25. Following the completion of the sale, the director owned 7,755 shares in the company, valued at approximately $234,588.75. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.10% of the company’s stock.

BlackLine Stock Down 0.2%

BlackLine stock opened at $28.66 on Friday. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a 50 day moving average price of $31.13 and a 200 day moving average price of $42.41. The company has a market capitalization of $1.68 billion, a PE ratio of 66.65 and a beta of 0.66.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Research analysts expect that BlackLine will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald cut their price target on shares of BlackLine from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. Piper Sandler raised their price target on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. BMO Capital Markets raised their price target on shares of BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $50.00 price target on shares of BlackLine in a report on Wednesday, May 6th. Finally, Bank of America assumed coverage on shares of BlackLine in a report on Tuesday, May 12th. They set an “underperform” rating and a $26.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, BlackLine currently has an average rating of “Hold” and a consensus price target of $43.67.

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.