Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Up 30.2% in March

Key Points

• Short interest rose 30.2% in March to 2,457,902 shares — about 5.5% of the company's shares are sold short with a days-to-cover ratio of 4.0.
• Blackbaud slightly beat quarterly EPS estimates ($1.19 vs. $1.15) with $295.3M in revenue (down 2.3% YoY) and set FY2026 guidance of $5.15–$5.25 EPS, while analysts carry an average "Reduce" rating and a $56.25 target.
• Insiders sold 39,801 shares (~$1.89M) in the last 90 days and now own 1.97% of shares, whereas institutional investors hold a high 94.21% of the stock.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 2,457,902 shares, a growth of 30.2% from the March 15th total of 1,888,251 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average daily trading volume, of 614,824 shares, the days-to-cover ratio is currently 4.0 days.

Blackbaud Trading Up 5.8%

Shares of BLKB opened at $37.96 on Thursday. The business's 50-day moving average price is $43.98 and its 200-day moving average price is $54.75. Blackbaud has a twelve month low of $33.95 and a twelve month high of $74.88. The stock has a market cap of $1.74 billion, a PE ratio of 15.95, a P/E/G ratio of 1.24 and a beta of 1.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The firm had revenue of $295.26 million for the quarter, compared to analysts' expectations of $292.71 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, equities analysts forecast that Blackbaud will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kevin P. Gregoire sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the transaction, the executive vice president directly owned 135,194 shares of the company's stock, valued at approximately $6,762,403.88. The trade was a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Benjamin sold 14,349 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total transaction of $681,147.03. Following the completion of the transaction, the executive vice president directly owned 73,124 shares in the company, valued at $3,471,196.28. This trade represents a 16.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,801 shares of company stock valued at $1,893,874. 1.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC increased its position in shares of Blackbaud by 589.0% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company's stock worth $36,000 after purchasing an additional 483 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Blackbaud by 380.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company's stock worth $39,000 after purchasing an additional 487 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Blackbaud by 4,300.0% in the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company's stock worth $39,000 after purchasing an additional 602 shares during the last quarter. Quarry LP bought a new position in shares of Blackbaud in the third quarter worth approximately $46,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Blackbaud in the fourth quarter worth approximately $47,000. 94.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on BLKB. Robert W. Baird set a $60.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Zacks Research downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Monday. Raymond James Financial set a $60.00 price objective on shares of Blackbaud in a report on Tuesday, February 10th. Evercore set a $55.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackbaud in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Blackbaud has an average rating of "Reduce" and an average target price of $56.25.

Blackbaud Company Profile

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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