Mutual of America Capital Management LLC Has $7.16 Million Stock Holdings in BlackLine $BL

Mutual of America Capital Management LLC boosted its position in BlackLine (NASDAQ:BL - Free Report) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,407 shares of the technology company's stock after buying an additional 9,270 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.20% of BlackLine worth $7,157,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio acquired a new stake in BlackLine in the 1st quarter valued at approximately $82,000. Asset Management One Co. Ltd. raised its position in BlackLine by 67.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,122 shares of the technology company's stock valued at $103,000 after buying an additional 856 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in BlackLine in the 2nd quarter valued at approximately $125,000. KBC Group NV raised its position in BlackLine by 33.9% in the 1st quarter. KBC Group NV now owns 2,919 shares of the technology company's stock valued at $141,000 after buying an additional 739 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in BlackLine in the 1st quarter valued at approximately $182,000. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating and set a $67.00 price target (up previously from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Zacks Research raised BlackLine from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. BMO Capital Markets boosted their price target on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Truist Financial boosted their price target on BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a research report on Tuesday, July 29th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.58.

Insider Buying and Selling at BlackLine

In related news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer directly owned 23,830 shares in the company, valued at $1,287,534.90. The trade was a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Unterman sold 910 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of the sale, the director owned 42,745 shares of the company's stock, valued at $2,350,975. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,484 shares of company stock valued at $135,976 over the last 90 days. 8.60% of the stock is currently owned by corporate insiders.

BlackLine Stock Performance

Shares of NASDAQ BL opened at $52.29 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The stock has a 50 day moving average of $52.54 and a 200-day moving average of $52.68. The company has a market capitalization of $3.24 billion, a P/E ratio of 40.54, a P/E/G ratio of 8.17 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company had revenue of $172.03 million during the quarter, compared to the consensus estimate of $170.87 million. During the same period in the previous year, the company posted $0.58 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. As a group, equities research analysts predict that BlackLine will post 0.9 EPS for the current year.

About BlackLine

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.

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