BlackLine $BL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in BlackLine (NASDAQ:BL) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,434 shares of the technology company’s stock after selling 8,929 shares during the quarter. Thrivent Financial for Lutherans owned about 0.34% of BlackLine worth $11,971,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in BlackLine in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of BlackLine during the second quarter worth $33,000. Huntington National Bank boosted its stake in shares of BlackLine by 57.5% in the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $70,000 after purchasing an additional 451 shares during the period. Strs Ohio purchased a new position in shares of BlackLine in the first quarter valued at $82,000. Finally, Hennessy Advisors Inc. acquired a new stake in BlackLine during the 2nd quarter valued at $125,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Stock Up 0.0%

NASDAQ:BL opened at $57.55 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 13.69 and a beta of 0.88. BlackLine has a one year low of $40.82 and a one year high of $66.25. The stock has a 50-day simple moving average of $55.16 and a 200 day simple moving average of $54.66.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. BlackLine’s revenue for the quarter was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Sell-side analysts predict that BlackLine will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BL shares. Baird R W cut shares of BlackLine from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. DA Davidson upgraded BlackLine to a “hold” rating in a research note on Monday, November 10th. Citigroup reaffirmed a “market outperform” rating on shares of BlackLine in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities initiated coverage on BlackLine in a research note on Tuesday, December 2nd. They set a “buy” rating and a $65.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.23.

Insider Buying and Selling at BlackLine

In related news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

About BlackLine

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.