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

Mutual of America Capital Management LLC grew its holdings in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 67.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Several other large investors have also bought and sold shares of the stock. Quadrature Capital Ltd raised its holdings in shares of BlackLine by 346.5% in the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company's stock worth $2,055,000 after buying an additional 24,713 shares during the period. Cetera Investment Advisers acquired a new stake in BlackLine in the first quarter valued at $1,572,000. Comerica Bank increased its position in shares of BlackLine by 11.8% in the first quarter. Comerica Bank now owns 124,266 shares of the technology company's stock worth $8,025,000 after acquiring an additional 13,066 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in BlackLine in the first quarter worth about $907,000. Finally, Vanguard Group Inc. raised its holdings in BlackLine by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company's stock worth $476,662,000 after buying an additional 642,772 shares during the period. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Up 1.6 %

Shares of NASDAQ BL traded up $1.01 during midday trading on Friday, reaching $62.70. 576,984 shares of the company's stock were exchanged, compared to its average volume of 728,996. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The stock has a market capitalization of $3.92 billion, a PE ratio of 63.98, a price-to-earnings-growth ratio of 14.48 and a beta of 0.90. The business's fifty day moving average price is $56.26 and its two-hundred day moving average price is $51.76. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69.

Insider Activity

In related news, insider Karole Morgan-Prager sold 27,079 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the sale, the insider now owns 113,865 shares in the company, valued at $6,838,731.90. This represents a 19.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Partin sold 5,648 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The stock was 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 of the company's stock, valued at $12,022,732. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,108 shares of company stock worth $7,488,826 over the last quarter. 9.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BL shares. Morgan Stanley boosted their price objective on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. JMP Securities boosted their price target on shares of BlackLine from $81.00 to $86.00 and gave the company a "market outperform" rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. BTIG Research dropped their target price on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird cut their price target on BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, BlackLine currently has a consensus rating of "Hold" and a consensus target price of $64.10.

BlackLine 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.