Jane Street Group LLC Sells 58,717 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Jane Street Group LLC decreased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,196 shares of the technology company's stock after selling 58,717 shares during the quarter. Jane Street Group LLC's holdings in Blackbaud were worth $1,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Blackbaud by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock valued at $75,393,000 after purchasing an additional 3,119 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Blackbaud by 9.1% in the 4th quarter. Northern Trust Corp now owns 693,577 shares of the technology company's stock valued at $51,269,000 after purchasing an additional 57,941 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after purchasing an additional 140,273 shares during the last quarter. Norges Bank bought a new stake in shares of Blackbaud in the 4th quarter valued at approximately $34,168,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blackbaud by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company's stock valued at $30,505,000 after purchasing an additional 2,298 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Price Performance

Shares of BLKB stock opened at $63.76 on Wednesday. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market capitalization of $3.09 billion, a P/E ratio of -10.81 and a beta of 1.16. The stock has a 50 day moving average price of $62.53 and a 200 day moving average price of $71.79.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.06. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $270.66 million during the quarter, compared to analyst estimates of $268.53 million. During the same quarter last year, the business posted $0.93 EPS. The firm's revenue for the quarter was down 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BLKB has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.67.

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 10,698 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the sale, the senior vice president now owns 23,799 shares in the company, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chad Anderson sold 5,500 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.99, for a total transaction of $351,945.00. Following the completion of the sale, the chief financial officer now owns 35,976 shares of the company's stock, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.