Sanctuary Advisors LLC Has $201,000 Stock Position in BlackLine, Inc. (NASDAQ:BL)

Sanctuary Advisors LLC cut its position in shares of BlackLine, Inc. (NASDAQ:BL) by 19.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,641 shares of the technology company’s stock after selling 900 shares during the quarter. Sanctuary Advisors LLC’s holdings in BlackLine were worth $201,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BL. Arizona State Retirement System boosted its holdings in BlackLine by 2.3% during the second quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock valued at $709,000 after acquiring an additional 325 shares during the period. Covestor Ltd grew its stake in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 337 shares during the period. Quarry LP acquired a new stake in shares of BlackLine during the 2nd quarter worth about $32,000. Wrapmanager Inc. increased its holdings in shares of BlackLine by 17.2% during the second quarter. Wrapmanager Inc. now owns 4,899 shares of the technology company’s stock worth $237,000 after buying an additional 719 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of BlackLine by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company’s stock valued at $6,566,000 after buying an additional 753 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Stock Down 2.1 %

NASDAQ:BL opened at $61.20 on Monday. The company has a market cap of $3.82 billion, a PE ratio of 62.45, a P/E/G ratio of 15.18 and a beta of 0.90. The firm’s 50 day simple moving average is $60.74 and its 200 day simple moving average is $53.67. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup upped their target price on shares of BlackLine from $64.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. increased 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. Morgan Stanley boosted their price target on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler restated a “neutral” rating and set a $60.00 target price on shares of BlackLine in a report on Wednesday, November 20th. Finally, JMP Securities boosted their price target on BlackLine from $81.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and an average price target of $66.00.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the transaction, the executive now directly owns 72,920 shares of the company’s stock, valued at $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the business’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 directly owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,560 shares of company stock valued at $3,531,114 over the last ninety days. 9.93% of the stock is owned by company insiders.

BlackLine 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.