Geode Capital Management LLC Sells 18,180 Shares of BlackLine $BL

Geode Capital Management LLC reduced its position in shares of BlackLine (NASDAQ:BL) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,245,237 shares of the technology company’s stock after selling 18,180 shares during the period. Geode Capital Management LLC owned 2.09% of BlackLine worth $68,860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of BlackLine by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock worth $7,978,000 after buying an additional 7,228 shares during the period. Intech Investment Management LLC boosted its holdings in shares of BlackLine by 28.1% during the 1st quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock worth $1,253,000 after buying an additional 5,682 shares during the period. Strs Ohio bought a new stake in shares of BlackLine during the 1st quarter worth $82,000. Finally, Invesco Ltd. boosted its holdings in shares of BlackLine by 36.6% during the 2nd quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock worth $13,321,000 after buying an additional 63,068 shares during the period. 95.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mika Yamamoto sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 16,692 shares in the company, valued at approximately $475,388.16. This represents a 15.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory Hughes sold 1,637 shares of the stock in a transaction 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 completion of the transaction, the director owned 7,755 shares of the company’s stock, valued at approximately $234,588.75. This represents a 17.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Morgan Stanley decreased their price objective on shares of BlackLine from $68.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Citigroup decreased their price objective on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Bank of America initiated coverage on shares of BlackLine in a report on Tuesday, May 12th. They set an “underperform” rating and a $26.00 price objective for the company. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, BlackLine presently has an average rating of “Hold” and a consensus target price of $43.67.

BlackLine Price Performance

Shares of BlackLine stock opened at $28.20 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.70. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The firm has a fifty day moving average price of $30.94 and a two-hundred day moving average price of $42.16. The company has a market cap of $1.65 billion, a PE ratio of 65.58 and a beta of 0.66.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $0.49 EPS. The business’s revenue 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. Analysts expect that BlackLine will post 1.1 EPS for the current 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.