R Squared Ltd Makes New $250,000 Investment in Blackbaud, Inc. $BLKB

Key Points

• R Squared Ltd made a new investment of approximately $250,000 in Blackbaud, acquiring 3,888 shares during the second quarter.
• Institutional investors hold 94.21% of Blackbaud's stock, highlighting significant interest from hedge funds and financial institutions.
• Blackbaud's stock received mixed analyst ratings, with Weiss Ratings maintaining a "sell" while Wall Street Zen upgraded it to "buy," and a consensus target price set at $70.50.

R Squared Ltd acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,888 shares of the technology company's stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. raised its holdings in Blackbaud by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company's stock worth $733,000 after purchasing an additional 210 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 acquiring an additional 231 shares during the period. Aristides Capital LLC increased its holdings in shares of Blackbaud by 7.8% in the 1st quarter. Aristides Capital LLC now owns 4,142 shares of the technology company's stock valued at $257,000 after acquiring an additional 298 shares during the period. CWM LLC increased its holdings in shares of Blackbaud by 215.9% in the 2nd quarter. CWM LLC now owns 458 shares of the technology company's stock valued at $29,000 after acquiring an additional 313 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Blackbaud by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company's stock valued at $1,454,000 after acquiring an additional 361 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BLKB. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackbaud in a report on Friday. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $70.50.

Insiders Place Their Bets

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

Blackbaud Stock Performance

NASDAQ:BLKB opened at $65.18 on Friday. The firm's fifty day moving average price is $65.44 and its 200 day moving average price is $64.02. Blackbaud, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95. 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 firm has a market cap of $3.16 billion, a price-to-earnings ratio of -11.28, a price-to-earnings-growth ratio of 4.55 and a beta of 1.11.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The firm had revenue of $274.76 million for the quarter. On average, sell-side analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

About Blackbaud

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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