Readystate Asset Management LP Sells 10,004,162 Shares of BlackLine $BL

Readystate Asset Management LP lowered its position in BlackLine (NASDAQ:BL) by 99.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,080 shares of the technology company’s stock after selling 10,004,162 shares during the quarter. Readystate Asset Management LP owned approximately 0.11% of BlackLine worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BL. Norges Bank purchased a new position in shares of BlackLine during the fourth quarter worth approximately $80,787,000. Engaged Capital LLC boosted its stake in shares of BlackLine by 138.8% in the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after purchasing an additional 629,825 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of BlackLine during the 1st quarter valued at $17,335,000. Teacher Retirement System of Texas grew 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 valued at $26,300,000 after purchasing an additional 467,571 shares during the last quarter. Finally, Hawk Ridge Capital Management LP raised its position in BlackLine by 26.3% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after purchasing an additional 393,192 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insider Transactions at BlackLine

In related news, Director Gregory Hughes sold 1,637 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.25, for a total transaction of $49,519.25. Following the transaction, the director owned 7,755 shares in the company, valued at $234,588.75. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the transaction, the director directly owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. The trade was a 15.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

BL has been the subject of several recent research reports. Wall Street Zen downgraded shares of BlackLine from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Robert W. Baird set a $40.00 price objective on BlackLine in a report on Wednesday, May 6th. Scotiabank lowered BlackLine to an “outperform” rating in a research note on Tuesday, July 21st. BMO Capital Markets raised their target price 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. Finally, Citigroup decreased their target price on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.83.

BlackLine Stock Performance

Shares of BL stock opened at $31.95 on Wednesday. The stock has a fifty day moving average of $28.71 and a 200 day moving average of $34.97. BlackLine has a 52 week low of $24.70 and a 52 week high of $59.57. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 74.30 and a beta of 0.66. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) 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 business had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. During the same period in the previous year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, research analysts expect that BlackLine will post 1.1 earnings per share 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.