Mutual of America Capital Management LLC Purchases 23,294 Shares of BlackLine, Inc. (NASDAQ:BL)

Mutual of America Capital Management LLC increased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 67.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,884 shares of the technology company’s stock after purchasing an additional 23,294 shares during the period. Mutual of America Capital Management LLC owned about 0.09% of BlackLine worth $3,192,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Quarry LP acquired a new stake in BlackLine during the second quarter valued at approximately $32,000. EntryPoint Capital LLC acquired a new stake in BlackLine in the 1st quarter valued at $36,000. 1620 Investment Advisors Inc. bought a new stake in BlackLine in the second quarter valued at $64,000. Covestor Ltd raised its stake in BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after acquiring an additional 337 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after acquiring an additional 266 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Mark Partin sold 5,648 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $53.00, for a total value of $299,344.00. Following the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. This trade represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the sale, the insider now owns 113,865 shares in the company, valued at approximately $6,838,731.90. This trade represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,108 shares of company stock valued at $7,488,826 over the last ninety days. Insiders own 9.93% of the company’s stock.

BlackLine Stock Performance

Shares of NASDAQ:BL opened at $62.70 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market capitalization of $3.92 billion, a P/E ratio of 63.98, a P/E/G ratio of 13.54 and a beta of 0.90. The business has a 50-day moving average price of $56.00 and a two-hundred day moving average price of $51.74.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BL shares. JMP Securities lifted their price target on shares of BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday. Robert W. Baird reduced their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley increased their price target on BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial lifted their price objective on BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler restated a “neutral” rating and set a $60.00 target price on shares of BlackLine in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackLine currently has a consensus rating of “Hold” and an average target price of $64.10.

About BlackLine

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.