Rupal S. Hollenbeck Sells 2,500 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Key Points

• Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud, Inc. at an average price of $63.98, resulting in a total value of $159,950 and a 23.89% decrease in their stock ownership.
• Blackbaud reported a quarterly earnings per share (EPS) of $1.21, exceeding analysts' expectations, but its revenue was down 2.1% year-over-year.
• Research firms recently upgraded Blackbaud's rating from "hold" to "buy," while the average price target is set at $78.67, indicating potential for growth.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) Director Rupal S. Hollenbeck sold 2,500 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares in the company, valued at $509,664.68. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Blackbaud Stock Up 1.2%

Shares of BLKB stock traded up $0.74 on Friday, hitting $63.28. The stock had a trading volume of 330,341 shares, compared to its average volume of 376,898. The business has a 50 day moving average of $63.96 and a 200 day moving average of $64.94. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -10.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.13. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.05 by $0.16. The company had revenue of $281.38 million during the quarter, compared to the consensus estimate of $276.48 million. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently made changes to their positions in BLKB. LPL Financial LLC increased its holdings in Blackbaud by 17.7% during the fourth quarter. LPL Financial LLC now owns 12,905 shares of the technology company's stock worth $954,000 after buying an additional 1,940 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Blackbaud by 6.3% during the fourth quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company's stock worth $3,754,000 after buying an additional 3,017 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Blackbaud by 1,349.0% during the fourth quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company's stock worth $767,000 after buying an additional 9,659 shares during the last quarter. Bank of Montreal Can increased its holdings in Blackbaud by 7.1% during the fourth quarter. Bank of Montreal Can now owns 14,686 shares of the technology company's stock worth $1,086,000 after buying an additional 975 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Blackbaud by 1.1% during the fourth quarter. Invesco Ltd. now owns 71,288 shares of the technology company's stock worth $5,270,000 after buying an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on BLKB shares. Stifel Nicolaus dropped their price objective on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Blackbaud presently has an average rating of "Hold" and a consensus price target of $78.67.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.