27,908 Shares in Blackbaud, Inc. $BLKB Acquired by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. has acquired a new position in Blackbaud, Inc. during Q2, purchasing 27,908 shares valued at approximately $1.79 million, representing about 0.06% ownership of the company.
• Insider trades include Director Rupal S. Hollenbeck selling 2,500 shares at $63.98, and EVP Kevin P. Gregoire selling 8,000 shares at $72.67, resulting in decreases of 23.89% and 6.71% in their respective ownership positions.
• Wall Street analysts are optimistic about Blackbaud, upgrading their rating from "hold" to "buy," with an average price target set at $78.67.

Harbor Capital Advisors Inc. bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,908 shares of the technology company's stock, valued at approximately $1,792,000. Harbor Capital Advisors Inc. owned about 0.06% of Blackbaud at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Greenhouse Funds LLLP purchased a new stake in shares of Blackbaud during the 1st quarter valued at approximately $31,217,000. Nuveen LLC acquired a new position in shares of Blackbaud in the 1st quarter valued at $25,302,000. Clearline Capital LP purchased a new position in shares of Blackbaud during the 1st quarter worth $19,052,000. Jane Street Group LLC increased its position in shares of Blackbaud by 886.2% during the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company's stock worth $9,911,000 after purchasing an additional 143,533 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in Blackbaud in the 1st quarter valued at about $7,858,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.67.

Insider Activity at Blackbaud

In other Blackbaud news, EVP Kevin P. Gregoire sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the sale, the executive vice president owned 111,156 shares of the company's stock, valued at approximately $8,077,706.52. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the business's stock in a transaction that occurred 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 sale, the director owned 7,966 shares of the company's stock, valued at $509,664.68. This represents a 23.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

Blackbaud Stock Up 0.3%

Blackbaud stock traded up $0.21 during trading on Monday, reaching $66.72. The stock had a trading volume of 436,639 shares, compared to its average volume of 318,410. 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 52-week low of $58.05 and a 52-week high of $88.95. The stock has a market cap of $3.24 billion, a PE ratio of -11.54, a P/E/G ratio of 4.65 and a beta of 1.15. The business has a 50 day moving average price of $65.71 and a 200 day moving average price of $63.89.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.16. The business had revenue of $281.38 million for the quarter, compared to analyst estimates of $276.48 million. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company's revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. On average, analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

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.