BlackLine $BL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of BlackLine (NASDAQ:BL) by 39.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,740 shares of the technology company’s stock after selling 70,507 shares during the quarter. Thrivent Financial for Lutherans’ holdings in BlackLine were worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in BlackLine by 22.9% during the 3rd quarter. Bessemer Group Inc. now owns 989 shares of the technology company’s stock worth $53,000 after acquiring an additional 184 shares during the period. Amalgamated Bank lifted its position in BlackLine by 1.3% during the 3rd quarter. Amalgamated Bank now owns 15,143 shares of the technology company’s stock worth $804,000 after acquiring an additional 191 shares during the period. Blue Trust Inc. lifted its position in BlackLine by 3.7% during the 4th quarter. Blue Trust Inc. now owns 7,157 shares of the technology company’s stock worth $396,000 after acquiring an additional 256 shares during the period. PNC Financial Services Group Inc. lifted its position in BlackLine by 15.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the technology company’s stock worth $117,000 after acquiring an additional 301 shares during the period. Finally, Two Sigma Securities LLC lifted its position in BlackLine by 4.7% during the 2nd quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock worth $377,000 after acquiring an additional 301 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BL has been the subject of several recent analyst reports. Wall Street Zen cut BlackLine from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Morgan Stanley reduced their price target on BlackLine from $68.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Bank of America initiated coverage on BlackLine in a report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price target for the company. Truist Financial reduced their price target on BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.67.

BlackLine Stock Performance

NASDAQ BL opened at $28.94 on Friday. BlackLine has a 1-year low of $24.70 and a 1-year high of $59.57. The company has a market capitalization of $1.70 billion, a P/E ratio of 67.30 and a beta of 0.69. The business has a 50 day moving average price of $33.03 and a 200 day moving average price of $44.39. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.70.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. During the same period last year, the business posted $0.49 EPS. BlackLine’s quarterly revenue was up 9.7% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Sell-side analysts expect that BlackLine will post 1.1 EPS for the current fiscal year.

About BlackLine

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.