BlackLine, Inc. (NASDAQ:BL) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its position in BlackLine, Inc. (NASDAQ:BL) by 64.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,115 shares of the technology company’s stock after selling 9,138 shares during the quarter. Atria Investments Inc’s holdings in BlackLine were worth $282,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JMP Securities upped their price target on BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday. Morgan Stanley raised their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, BTIG Research reduced their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.10.

Insider Buying and Selling at BlackLine

In related news, CFO Mark Partin sold 5,648 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $12,022,732. This represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction dated 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 transaction, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. The trade was a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,108 shares of company stock valued at $7,488,826. Corporate insiders own 9.93% of the company’s stock.

BlackLine Trading Up 1.6 %

NASDAQ:BL opened at $62.70 on Friday. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a fifty day moving average price of $56.00 and a two-hundred day moving average price of $51.74. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 63.88, a PEG ratio of 13.54 and a beta of 0.90.

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.