Mutual of America Capital Management LLC Decreases Holdings in BlackLine, Inc. (NASDAQ:BL)

Mutual of America Capital Management LLC decreased its position in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,568 shares of the technology company’s stock after selling 296 shares during the quarter. Mutual of America Capital Management LLC’s holdings in BlackLine were worth $2,635,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp lifted its stake in BlackLine by 22.6% in the 2nd quarter. Mackenzie Financial Corp now owns 3,762 shares of the technology company’s stock valued at $251,000 after buying an additional 693 shares in the last quarter. MGO One Seven LLC lifted its stake in BlackLine by 4.4% in the 2nd quarter. MGO One Seven LLC now owns 4,857 shares of the technology company’s stock valued at $323,000 after buying an additional 204 shares in the last quarter. Swiss National Bank lifted its stake in BlackLine by 6.3% in the 2nd quarter. Swiss National Bank now owns 132,600 shares of the technology company’s stock valued at $8,831,000 after buying an additional 7,800 shares in the last quarter. Pictet Asset Management SA lifted its stake in BlackLine by 10.3% in the 2nd quarter. Pictet Asset Management SA now owns 3,732 shares of the technology company’s stock valued at $249,000 after buying an additional 347 shares in the last quarter. Finally, Ceera Investments LLC lifted its stake in BlackLine by 47.0% in the 2nd quarter. Ceera Investments LLC now owns 7,385 shares of the technology company’s stock valued at $492,000 after buying an additional 2,360 shares in the last quarter.

BlackLine Trading Up 0.1 %

BL stock opened at $60.57 on Wednesday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -45.89 and a beta of 0.76. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 17.76. The business has a fifty day simple moving average of $59.94 and a 200-day simple moving average of $65.37. BlackLine, Inc. has a 52 week low of $48.73 and a 52 week high of $115.54.

BlackLine (NASDAQ:BLGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The technology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $134.27 million during the quarter, compared to the consensus estimate of $133.73 million. BlackLine had a negative return on equity of 35.49% and a negative net margin of 15.59%. On average, equities research analysts expect that BlackLine, Inc. will post -0.62 EPS for the current year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 3,941 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $57.82, for a total transaction of $227,868.62. Following the completion of the sale, the executive now directly owns 54,288 shares in the company, valued at approximately $3,138,932.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Peter Hirsch sold 1,997 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,320.75. Following the completion of the sale, the chief technology officer now directly owns 30,463 shares of the company’s stock, valued at approximately $1,820,164.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Mark Woodhams sold 3,941 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $57.82, for a total transaction of $227,868.62. Following the sale, the executive now directly owns 54,288 shares of the company’s stock, valued at $3,138,932.16. The disclosure for this sale can be found here. Insiders sold a total of 7,453 shares of company stock worth $436,861 in the last ninety days. Insiders own 9.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BL. Truist Financial reduced their target price on BlackLine from $70.00 to $55.00 in a research note on Monday, November 7th. Piper Sandler reduced their target price on BlackLine from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. JMP Securities cut their price target on BlackLine from $112.00 to $87.00 and set a “market outperform” rating for the company in a report on Tuesday, October 18th. Credit Suisse Group began coverage on BlackLine in a report on Friday, September 23rd. They issued a “neutral” rating and a $75.00 price target for the company. Finally, Citigroup cut their price target on BlackLine from $73.00 to $65.00 in a report on Friday, October 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.25.

About BlackLine

(Get Rating)

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 high volumes of individual transactions; and task management to create and manage processes and task lists.

Featured Articles

Want to see what other hedge funds are holding BL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackLine, Inc. (NASDAQ:BLGet Rating).

Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

Receive News & Ratings for BlackLine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackLine and related companies with MarketBeat.com's FREE daily email newsletter.