Key Points
- CEO Michael Gianoni sold 17,000 Blackbaud shares at an average price of $47.35, generating $804,950 and reducing his holdings by 3.86% to 423,264 shares.
- Blackbaud shares opened at $48.57 and were trading up 3.1%, while the company reported quarterly EPS of $1.33—beating estimates of $1.23—on revenue of $290.6 million.
- Analysts maintain a consensus “Hold” rating with a $48.50 price target; institutional investors own 94.21% of the company’s stock.
Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) CEO Michael Gianoni sold 17,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the sale, the chief executive officer owned 423,264 shares of the company's stock, valued at $20,041,550.40. This trade represents a 3.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Blackbaud Trading Up 3.1%
Shares of BLKB opened at $48.57 on Friday. The stock has a fifty day moving average price of $36.94 and a two-hundred day moving average price of $37.88. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83. Blackbaud, Inc. has a 52-week low of $25.58 and a 52-week high of $70.71. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.61 and a beta of 0.97.
Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business's revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts predict that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.
Hedge Funds Weigh In On Blackbaud
Several hedge funds have recently added to or reduced their stakes in BLKB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Blackbaud by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company's stock worth $1,454,000 after purchasing an additional 361 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Blackbaud by 293.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company's stock valued at $478,000 after purchasing an additional 5,742 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Blackbaud by 26.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company's stock valued at $14,225,000 after purchasing an additional 47,549 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Blackbaud by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company's stock valued at $6,314,000 after purchasing an additional 4,178 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Blackbaud by 886.2% during the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company's stock worth $9,911,000 after buying an additional 143,533 shares during the period. Institutional investors own 94.21% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on BLKB shares. Robert W. Baird set a $54.00 price target on shares of Blackbaud in a research report on Thursday, July 30th. Weiss Ratings raised shares of Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Stifel Nicolaus decreased their price target on shares of Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $55.00 price target on shares of Blackbaud in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Blackbaud presently has an average rating of "Hold" and a consensus price target of $48.50.
Check Out Our Latest Analysis on BLKB
Blackbaud Company Profile
(
Get Free Report)
Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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