BlackLine, Inc.
In the published model solve dated 2026-Q2, anchored at $32.85, BlackLine, Inc. (BL) is priced for today's economics sustained for ~12.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• The reported operating margin of 3.6% badly understates the cash economics: free cash flow ran $164.9 million on about 720 million dollars of trailing revenue, with stock compensation and acquisition amortization sitting between the two figures. • Growth is the problem the price has to solve, and it is decelerating: full-year 2026 revenue is guided to 765 to 769 million dollars, and the customer count went 4,398 in 2023 to 4,443 in 2024 to 4,394 in 2025 [Source: Q1 2026 earnings release, May 5
Is BL overvalued? See what's priced in →
265 institutional managers reported holding BL in 13F filings for the quarter ended 2026-03-31. Together they hold about 90% of the company; the top 10 hold 53%. 46 opened new positions that quarter. Held by BlackRock, Vanguard Group, UBS, among others. On the short side, 6.7M shares were sold short as of the 2026-06-15 count, about 10% of shares outstanding (5.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BL's share count grew 2.1% over the past five years even with $281.53M spent on repurchases. It pays no dividend. Cash returned over the past three years: $281.53M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at BL over the trailing three years: 2024: 3 buys totaling $593k; 2025: 1 buy totaling $486k. 22 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | -10.0% | +6.4% |
| 2023-11-04 | +14.8% | +0.9% |
| 2024-02-24 | -3.7% | +7.3% |
| 2024-05-09 | -2.0% | -18.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BL's latest 8-K filings: 2026-08-04 (items 8.01); 2026-08-04 (items 2.02, 9.01); 2026-08-03 (items 5.02, 9.01); 2026-05-08 (items 5.07); 2026-05-05 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.