Mutual of America Capital Management LLC Acquires 6,544 Shares of BlackLine, Inc. (NASDAQ:BL)

Mutual of America Capital Management LLC boosted its holdings in BlackLine, Inc. (NASDAQ:BL) by 22.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,049 shares of the technology company’s stock after acquiring an additional 6,544 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of BlackLine worth $2,328,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BL. CWM LLC lifted its holdings in BlackLine by 94.8% during the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares during the last quarter. NBC Securities Inc. grew its position in BlackLine by 2.5% during the 4th quarter. NBC Securities Inc. now owns 11,854 shares of the technology company’s stock worth $740,000 after acquiring an additional 285 shares during the last quarter. Portside Wealth Group LLC raised its position in BlackLine by 4.6% in the 4th quarter. Portside Wealth Group LLC now owns 8,091 shares of the technology company’s stock valued at $505,000 after purchasing an additional 359 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in BlackLine by 9,080.0% in the fourth quarter. TFO Wealth Partners LLC now owns 459 shares of the technology company’s stock worth $312,000 after purchasing an additional 454 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in shares of BlackLine by 8.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 6,026 shares of the technology company’s stock valued at $376,000 after buying an additional 479 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BL. Robert W. Baird upped their price objective on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Piper Sandler dropped their price target on BlackLine from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. BMO Capital Markets lifted their price objective on BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. William Blair upgraded shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. Finally, Citigroup reduced their target price on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and a consensus target price of $62.78.

Insiders Place Their Bets

In related news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the sale, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jimmy C. Duan acquired 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was purchased at an average cost of $47.73 per share, for a total transaction of $95,460.00. Following the completion of the transaction, the insider now directly owns 50,360 shares of the company’s stock, valued at approximately $2,403,682.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the transaction, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The disclosure for this sale can be found here. Company insiders own 9.93% of the company’s stock.

BlackLine Price Performance

NASDAQ:BL opened at $47.99 on Friday. The stock has a market capitalization of $2.97 billion, a PE ratio of 208.65, a P/E/G ratio of 5.52 and a beta of 0.86. BlackLine, Inc. has a 1-year low of $43.79 and a 1-year high of $69.31. The firm has a fifty day simple moving average of $50.03 and a 200 day simple moving average of $57.13. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $157.46 million during the quarter, compared to the consensus estimate of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. On average, research analysts expect that BlackLine, Inc. will post 1.1 EPS for the current fiscal year.

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.