Thrivent Financial for Lutherans Acquires 2,046 Shares of BlackLine, Inc. (NASDAQ:BL)

Thrivent Financial for Lutherans lifted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,639 shares of the technology company’s stock after purchasing an additional 2,046 shares during the period. Thrivent Financial for Lutherans owned 0.07% of BlackLine worth $2,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of BlackLine by 13.0% in the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after buying an additional 266 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of BlackLine by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock valued at $709,000 after purchasing an additional 325 shares in the last quarter. Covestor Ltd boosted its holdings in BlackLine by 31.9% during 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 period. Louisiana State Employees Retirement System boosted its position in BlackLine by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,800 shares of the technology company’s stock valued at $1,250,000 after buying an additional 600 shares during the period. Finally, Quarry LP bought a new position in BlackLine during the 2nd quarter valued at approximately $32,000. Institutional investors own 95.13% of the company’s stock.

Insider Transactions at BlackLine

In related news, CFO Mark Partin sold 5,648 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. This represents a 2.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the transaction, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,262,575. This trade represents a 8.07 % 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 currently owned by company insiders.

Wall Street Analyst Weigh In

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

BlackLine Stock Performance

BlackLine stock opened at $61.88 on Thursday. 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 P/E ratio of 64.36, a price-to-earnings-growth 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. The company’s 50-day moving average is $56.76 and its 200 day moving average is $51.70.

BlackLine Company Profile

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.