5,980,843 Shares in Blackbaud, Inc. $BLKB Bought by BlackRock Inc.

Key Points

• BlackRock acquired 5.98 million Blackbaud shares worth approximately $177.2 million, giving it a 13.18% stake. Institutional investors and hedge funds collectively own 94.21% of the company.
• Blackbaud reported quarterly EPS of $1.33, exceeding the $1.23 analyst estimate, while revenue rose 3.3% year over year to $290.6 million. Analysts maintain a consensus “Hold” rating with a $48.50 price target.
• BLKB shares opened at $48.57, up 3.1%, after trading between $25.58 and $70.71 over the past year. Company insiders have sold 45,205 shares worth about $2.0 million over the last three months.

BlackRock Inc. bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 5,980,843 shares of the technology company's stock, valued at approximately $177,153,000. BlackRock Inc. owned 13.18% of Blackbaud at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $139,759,000 after purchasing an additional 2,205,641 shares during the period. Norges Bank acquired a new position in shares of Blackbaud in the 4th quarter worth approximately $29,846,000. AQR Capital Management LLC lifted its position in shares of Blackbaud by 157.3% in the 4th quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company's stock worth $48,617,000 after purchasing an additional 469,391 shares during the period. Shapiro Capital Management LLC boosted its stake in shares of Blackbaud by 248.3% in the 3rd quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company's stock valued at $26,958,000 after purchasing an additional 298,839 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Blackbaud in the 2nd quarter valued at $7,067,000. Institutional investors and hedge funds own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BLKB. Robert W. Baird set a $54.00 target price on shares of Blackbaud in a research note on Thursday, July 30th. Stifel Nicolaus dropped their price objective on Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Weiss Ratings upgraded Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Finally, Raymond James Financial restated an "outperform" rating and set a $55.00 target price on shares of Blackbaud in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.50.

Blackbaud Stock Up 3.1%

Shares of NASDAQ:BLKB opened at $48.57 on Friday. The business's 50 day simple moving average is $36.94 and its two-hundred day simple moving average is $37.88. The firm has a market cap of $2.20 billion, a P/E ratio of 15.18, a PEG ratio of 1.61 and a beta of 0.97. 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.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, research analysts forecast that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 17,000 shares of Blackbaud stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $47.35, for a total transaction of $804,950.00. Following the transaction, the chief executive officer directly owned 423,264 shares of the company's stock, valued at $20,041,550.40. The trade was a 3.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chad Anderson sold 6,205 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the sale, the chief financial officer owned 62,869 shares of the company's stock, valued at approximately $1,968,428.39. This represents a 8.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,205 shares of company stock worth $2,000,229. Corporate insiders own 2.01% of the company's stock.

Blackbaud 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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