Barton Investment Management Has $16.59 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Barton Investment Management reduced its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 32.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 273,082 shares of the technology company’s stock after selling 129,754 shares during the period. BlackLine makes up 1.8% of Barton Investment Management’s holdings, making the stock its 11th biggest holding. Barton Investment Management’s holdings in BlackLine were worth $16,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new stake in shares of BlackLine during the fourth quarter valued at about $263,000. Conestoga Capital Advisors LLC boosted its position in BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock worth $128,439,000 after buying an additional 354,784 shares during the period. Rheos Capital Works Inc. bought a new stake in BlackLine during the 4th quarter worth approximately $6,076,000. Gagnon Securities LLC increased its position in BlackLine by 6.6% in the 4th quarter. Gagnon Securities LLC now owns 197,278 shares of the technology company’s stock valued at $11,987,000 after acquiring an additional 12,292 shares during the period. Finally, Pacer Advisors Inc. increased its position in BlackLine by 154.1% in the 4th quarter. Pacer Advisors Inc. now owns 4,159 shares of the technology company’s stock valued at $253,000 after acquiring an additional 2,522 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BL shares. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Citigroup upgraded BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Thursday, January 16th. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $68.10.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of the business’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 value of $1,569,922.56. Following the completion of the sale, the executive now owns 72,920 shares in the company, valued at $4,690,214.40. The trade was a 25.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.53% of the company’s stock.

BlackLine Price Performance

BL opened at $65.64 on Thursday. The firm has a 50-day moving average price of $61.68 and a 200-day moving average price of $56.26. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 66.98, a PEG ratio of 8.97 and a beta of 0.92.

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.