Blackbaud (NASDAQ:BLKB) EVP Kevin Gregoire Sells 22,000 Shares of Stock

Key Points

• Blackbaud EVP Kevin Gregoire sold 22,000 shares at an average price of $45.50, generating approximately $1.001 million. His remaining stake fell 16.27% to 113,194 shares.
• Blackbaud reported quarterly EPS of $1.33, beating estimates of $1.23, while revenue of $290.6 million rose 3.3% year over year but came in slightly below expectations.
• BLKB is rated “Hold” by analysts, with an average price target of $48.50 versus a recent share price of $45.87; institutional investors own 94.21% of the stock.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) EVP Kevin Gregoire sold 22,000 shares of Blackbaud stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $45.50, for a total value of $1,001,000.00. Following the completion of the transaction, the executive vice president owned 113,194 shares in the company, valued at approximately $5,150,327. This represents a 16.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Blackbaud Price Performance

Shares of BLKB stock traded down $0.49 on Friday, reaching $45.87. The company had a trading volume of 486,543 shares, compared to its average volume of 661,766. The stock has a market capitalization of $2.08 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.57 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $70.71. The business's 50-day moving average is $31.64 and its 200 day moving average is $38.59.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to the consensus estimate of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities research analysts forecast that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLKB. BlackRock Inc. acquired a new position in shares of Blackbaud in the second quarter worth approximately $177,153,000. Northwestern Mutual Wealth Management Co. raised its holdings in Blackbaud by 143,409.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company's stock worth $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Blackbaud by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company's stock worth $60,071,000 after purchasing an additional 58,806 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Blackbaud by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company's stock worth $61,743,000 after purchasing an additional 5,709 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Blackbaud by 16.7% in the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company's stock valued at $49,385,000 after purchasing an additional 111,388 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLKB has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Blackbaud from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 23rd. Robert W. Baird set a $54.00 price objective on Blackbaud in a report on Thursday, July 30th. Stifel Nicolaus reduced their price objective on Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, July 10th. Raymond James Financial reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Blackbaud in a report on Wednesday, July 29th. Finally, Zacks Research downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Blackbaud currently has an average rating of "Hold" and an average target price of $48.50.

About Blackbaud

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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