Blackbaud, Inc. $BLKB Shares Bought by Credit Industriel ET Commercial

Key Points

• Credit Industriel ET Commercial increased its stake in Blackbaud, Inc. by 21.1% during the 2nd quarter, now owning 33,112 shares valued at approximately $2.13 million.
• The stock price of Blackbaud currently stands at $63.62 with a market cap of $3.09 billion, and it has seen a 12-month trading range between $58.05 and $88.95.
• Insider trading activity includes Director Rupal S. Hollenbeck selling 2,500 shares, reflecting a 23.89% decrease in their ownership, while EVP Kevin P. Gregoire sold 8,000 shares, indicating a 6.71% decline in their position.

Credit Industriel ET Commercial grew its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 21.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,112 shares of the technology company's stock after purchasing an additional 5,780 shares during the quarter. Credit Industriel ET Commercial owned 0.07% of Blackbaud worth $2,126,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Blackbaud by 1.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 260,909 shares of the technology company's stock valued at $16,753,000 after purchasing an additional 4,602 shares during the period. CWM LLC increased its position in shares of Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company's stock valued at $29,000 after purchasing an additional 313 shares during the period. Inspire Investing LLC increased its position in shares of Blackbaud by 10.9% during the 2nd quarter. Inspire Investing LLC now owns 6,113 shares of the technology company's stock valued at $393,000 after purchasing an additional 603 shares during the period. Triodos Investment Management BV increased its position in shares of Blackbaud by 17.6% during the 2nd quarter. Triodos Investment Management BV now owns 50,000 shares of the technology company's stock valued at $3,210,000 after purchasing an additional 7,500 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Blackbaud by 2,168.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company's stock valued at $87,000 after purchasing an additional 1,301 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud stock in a transaction on Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the transaction, the director owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares in the company, valued at $8,077,706.52. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Blackbaud Stock Up 0.4%

Shares of Blackbaud stock opened at $63.62 on Tuesday. The stock's fifty day moving average is $65.27 and its 200-day moving average is $63.89. The firm has a market capitalization of $3.09 billion, a PE ratio of -11.01, a price-to-earnings-growth ratio of 4.43 and a beta of 1.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. 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 issued its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The business had revenue of $274.76 million for the quarter. Equities analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BLKB shares. Wall Street Zen upgraded Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackbaud in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $70.50.

Blackbaud Profile

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.

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