Atria Investments Inc Sells 9,138 Shares of BlackLine, Inc. (NASDAQ:BL)

Atria Investments Inc trimmed its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 64.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of BlackLine by 11.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,944 shares of the technology company's stock worth $1,205,000 after purchasing an additional 1,850 shares during the period. Vanguard Group Inc. raised its position in shares of BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company's stock worth $476,662,000 after acquiring an additional 642,772 shares in the last quarter. American International Group Inc. grew its stake in BlackLine by 7.5% during the first quarter. American International Group Inc. now owns 30,440 shares of the technology company's stock worth $1,966,000 after purchasing an additional 2,117 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in BlackLine by 42.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 144,008 shares of the technology company's stock worth $9,293,000 after purchasing an additional 43,103 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in BlackLine in the first quarter valued at approximately $36,000. 95.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Mark Partin sold 85,308 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $54.84, for a total transaction of $4,678,290.72. Following the transaction, the chief financial officer now directly owns 226,844 shares in the company, valued at approximately $12,440,124.96. This represents a 27.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karole Morgan-Prager sold 10,000 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at approximately $6,262,575. This represents a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,108 shares of company stock worth $7,488,826. 9.93% of the stock is currently owned by insiders.

BlackLine Stock Performance

Shares of BL traded up $1.01 during trading hours on Friday, hitting $62.70. The company's stock had a trading volume of 576,984 shares, compared to its average volume of 728,996. The business has a 50 day simple moving average of $56.26 and a two-hundred day simple moving average of $51.76. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 63.98, a PEG ratio of 14.48 and a beta of 0.90.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. BTIG Research reduced their price objective on BlackLine from $71.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Robert W. Baird decreased their price objective on BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Morgan Stanley increased their target price on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and an average 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.