Thrivent Financial for Lutherans Decreases Holdings in BlackLine, Inc. (NASDAQ:BL)

Thrivent Financial for Lutherans reduced its stake in BlackLine, Inc. (NASDAQ:BL) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,174 shares of the technology company’s stock after selling 465 shares during the quarter. Thrivent Financial for Lutherans’ holdings in BlackLine were worth $2,687,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BL. SBI Securities Co. Ltd. bought a new stake in shares of BlackLine in the fourth quarter valued at $31,000. Global Retirement Partners LLC raised its stake in BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC lifted its holdings in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after purchasing an additional 209 shares during the period. Finally, KBC Group NV increased its stake in shares of BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after purchasing an additional 666 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BL. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Citigroup reduced their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Truist Financial dropped their price objective on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and lifted their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Piper Sandler cut their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.40.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.93% of the company’s stock.

BlackLine Stock Performance

BlackLine stock opened at $50.19 on Friday. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.09. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The stock has a market cap of $3.15 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The firm’s fifty day moving average price is $54.29 and its 200-day moving average price is $56.75.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, equities research analysts expect that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.