Mutual of America Capital Management LLC Has $7.12 Million Stock Position in BlackLine, Inc. (NASDAQ:BL)

Mutual of America Capital Management LLC increased its holdings in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 102.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,142 shares of the technology company's stock after purchasing an additional 59,258 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.19% of BlackLine worth $7,118,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its position in BlackLine by 23.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 37,961 shares of the technology company's stock valued at $2,307,000 after purchasing an additional 7,330 shares during the last quarter. Olympiad Research LP bought a new stake in shares of BlackLine during the 4th quarter worth approximately $202,000. Hardy Reed LLC boosted its holdings in shares of BlackLine by 9.5% in the 4th quarter. Hardy Reed LLC now owns 4,843 shares of the technology company's stock valued at $294,000 after buying an additional 420 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of BlackLine by 21.0% in the fourth quarter. Handelsbanken Fonder AB now owns 489,200 shares of the technology company's stock valued at $29,724,000 after buying an additional 84,800 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in BlackLine during the fourth quarter worth $3,010,000. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Performance

BL traded up $0.14 during trading on Thursday, hitting $48.11. The stock had a trading volume of 275,958 shares, compared to its average volume of 838,759. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The company has a 50 day moving average price of $57.43 and a 200-day moving average price of $56.84. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 33.18, a P/E/G ratio of 10.80 and a beta of 1.03.

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BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. As a group, research analysts predict that BlackLine, Inc. will post 0.9 EPS for the current year.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares of the company's stock, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.53% of the company's stock.

Analyst Ratings Changes

BL has been the subject of a number of recent analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. StockNews.com downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley upped their price objective on BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $66.40.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.