BlackLine, Inc. (NASDAQ:BL) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in BlackLine, Inc. (NASDAQ:BL) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 44,639 shares of the technology company’s stock after purchasing an additional 2,046 shares during the period. Thrivent Financial for Lutherans’ holdings in BlackLine were worth $2,462,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in shares of BlackLine by 67.3% during the third quarter. Mutual of America Capital Management LLC now owns 57,884 shares of the technology company’s stock worth $3,192,000 after purchasing an additional 23,294 shares in the last quarter. Geneva Capital Management LLC increased its stake in shares of BlackLine by 2.8% during the third quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company’s stock worth $49,395,000 after buying an additional 24,446 shares during the period. Victory Capital Management Inc. raised its holdings in shares of BlackLine by 61.9% in the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company’s stock valued at $1,416,000 after purchasing an additional 9,820 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in BlackLine by 3.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,474 shares of the technology company’s stock worth $2,177,000 after buying an additional 1,409 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 337 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Trading Down 1.9 %

Shares of BL stock opened at $61.88 on Thursday. The business’s fifty day moving average price is $56.76 and its 200 day moving average price is $51.70. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $3.87 billion, a PE ratio of 64.36, a P/E/G ratio of 14.73 and a beta of 0.90. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BTIG Research reduced their price objective on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Truist Financial upped their price target on shares of BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.10.

Insiders Place Their Bets

In related news, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the transaction, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. The trade was a 2.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karole Morgan-Prager sold 5,773 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the sale, the insider now owns 113,865 shares in the company, valued at approximately $6,278,516.10. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,108 shares of company stock worth $7,488,826. 9.93% of the stock is owned by company insiders.

About BlackLine

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.