Jane Street Group LLC Has $9.91 Million Position in Blackbaud, Inc. $BLKB

Key Points

• Jane Street Group LLC increased its stake in Blackbaud, Inc. by 886.2%, owning $9.91 million worth of shares after acquiring an additional 143,533 shares in the 1st quarter.
• In recent trading, Blackbaud posted an EPS of $1.21, exceeding analysts' expectations of $1.05, while experiencing a 2.1% decline in quarterly revenue year-over-year.
• Wall Street analysts have upgraded Blackbaud from a "hold" to a "buy" rating, with a consensus target price of $78.67 for the stock.

Jane Street Group LLC raised its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 886.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,729 shares of the technology company's stock after purchasing an additional 143,533 shares during the quarter. Jane Street Group LLC owned 0.33% of Blackbaud worth $9,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Blackbaud by 127.4% in the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock valued at $32,000 after purchasing an additional 293 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock valued at $43,000 after buying an additional 268 shares during the period. KBC Group NV lifted its holdings in shares of Blackbaud by 31.8% in the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock valued at $137,000 after buying an additional 533 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Blackbaud by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company's stock valued at $143,000 after buying an additional 231 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Blackbaud by 156.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock valued at $213,000 after buying an additional 1,752 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Blackbaud presently has an average rating of "Hold" and a consensus price target of $78.67.

Insiders Place Their Bets

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

Blackbaud Price Performance

Blackbaud stock traded up $0.25 during mid-day trading on Friday, hitting $66.60. 260,626 shares of the company were exchanged, compared to its average volume of 270,479. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. The business's 50 day simple moving average is $64.98 and its two-hundred day simple moving average is $63.75. The company has a market capitalization of $3.23 billion, a P/E ratio of -11.52, a PEG ratio of 4.64 and a beta of 1.15. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.16. The company had revenue of $281.38 million during the quarter, compared to the consensus estimate of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.Blackbaud's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. Analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Blackbaud Company 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.