BlackLine, Inc. (NASDAQ:BL) Stock Holdings Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in BlackLine, Inc. (NASDAQ:BL) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,505 shares of the technology company’s stock after selling 1,301 shares during the quarter. Mutual of America Capital Management LLC’s holdings in BlackLine were worth $1,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC increased its position in shares of BlackLine by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 23,544 shares of the technology company’s stock worth $1,724,000 after acquiring an additional 176 shares in the last quarter. Arizona State Retirement System grew its position in BlackLine by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 14,639 shares of the technology company’s stock worth $812,000 after purchasing an additional 227 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in BlackLine by 1.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 22,359 shares of the technology company’s stock valued at $1,504,000 after purchasing an additional 260 shares during the period. Prudential Financial Inc. lifted its holdings in shares of BlackLine by 4.8% in the first quarter. Prudential Financial Inc. now owns 6,352 shares of the technology company’s stock valued at $465,000 after purchasing an additional 289 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of BlackLine by 12.1% in the first quarter. Mackenzie Financial Corp now owns 3,069 shares of the technology company’s stock worth $225,000 after buying an additional 331 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BL. JPMorgan Chase & Co. reduced their price objective on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Wolfe Research started coverage on shares of BlackLine in a report on Monday, March 18th. They set a “peer perform” rating for the company. Piper Sandler dropped their price objective on shares of BlackLine from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. William Blair lowered shares of BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Finally, JMP Securities restated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.80.

BlackLine Trading Down 0.8 %

BlackLine stock opened at $57.37 on Monday. BlackLine, Inc. has a one year low of $47.26 and a one year high of $69.31. The company’s fifty day moving average price is $62.02 and its two-hundred day moving average price is $59.13. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -573.70, a PEG ratio of 10.19 and a beta of 0.86.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The business had revenue of $155.73 million for the quarter, compared to analyst estimates of $154.24 million. On average, analysts forecast that BlackLine, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Transactions at BlackLine

In other BlackLine news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at $3,088,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $632,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas Unterman sold 750 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The disclosure for this sale can be found here. 9.93% of the stock is owned by corporate insiders.

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.