Monday, December 11, 2017 10:15 PM ET
Insider Sales at Blackline (BL) are Significant and Extend the Selling Trend of Last Quarter
In SEC filings today Blackline reported three insiders — Iconiq Strategic Partners Lp, 10% Owner, William J G Griffith, 10% Owner and Director, and Mario Spanicciati, Director and Officer — disposed of 3,265,821 shares in the company having a market value of approximately $111,266,521. There have been 3 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the disposition of 2,806,823 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 6,072,644 shares and have averaged 1,012,107 shares per transaction over this time period.
Blackline insider trading represents a level of buy/sell trades that is above for the 97 peer company average over the last 90-day period. The Software peer group saw 173 buy/sell trades during this period for an average of 1.8 transactions per company. The number of shares per buy/sell trade for Blackline insiders was also higher. Within the peer group there were 1,215,604 shares purchased and 9,371,772 shares sold with company insiders having sold 47,145 shares on average.
In determining significant insider buying and selling, trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data obtained to compose and write this story.
Today’s Insider Activity
* Iconiq Strategic Partners Lp, 10% Owner, sold 1,415,519 shares
* William J G Griffith, 10% Owner and Director, sold 1,415,519 shares
* Mario Spanicciati, Director and Officer, sold 434,783 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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