XTX Topco Ltd Has $1.05 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Key Points

• XTX Topco Ltd increased its shares in Blackbaud, Inc. by 303.8% in Q1, bringing their total holdings to 16,958 shares valued at approximately $1,052,000.
• Blackbaud reported a quarterly earnings per share (EPS) of $1.21, exceeding estimates, with quarterly revenue of $281.38 million, although this represented a 2.1% decrease compared to the previous year.
• Recent analyst ratings show a mixed response, with Stifel Nicolaus lowering their price target to $65.00 while Wall Street Zen upgraded it to a "buy" rating, reflecting a consensus rating of "Hold."

XTX Topco Ltd boosted its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 303.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,958 shares of the technology company's stock after purchasing an additional 12,758 shares during the period. XTX Topco Ltd's holdings in Blackbaud were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLKB. First National Advisers LLC acquired a new position in Blackbaud in the 1st quarter valued at $376,000. Avantax Advisory Services Inc. grew its position in Blackbaud by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company's stock valued at $733,000 after acquiring an additional 210 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Blackbaud by 54.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 4,525 shares of the technology company's stock valued at $281,000 after buying an additional 1,603 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Blackbaud by 80.0% during the 1st quarter. Allianz Asset Management GmbH now owns 12,600 shares of the technology company's stock valued at $782,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Blackbaud in the first quarter worth $689,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Trading Up 3.3%

Blackbaud stock traded up $2.07 during midday trading on Wednesday, reaching $65.19. The stock had a trading volume of 259,528 shares, compared to its average volume of 296,975. The firm's fifty day simple moving average is $63.90 and its two-hundred day simple moving average is $65.73. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -11.28, a PEG ratio of 4.61 and a beta of 1.13. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month 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.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.16. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company had revenue of $281.38 million during the quarter, compared to analyst estimates of $276.48 million. During the same quarter last year, the business posted $1.08 EPS. The company's revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on BLKB. Stifel Nicolaus decreased their price objective 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. Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $78.67.

Insiders Place Their Bets

In other Blackbaud news, EVP Kevin P. Gregoire sold 8,000 shares of the business's stock in a transaction 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chad Anderson sold 5,500 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the transaction, the chief financial officer directly owned 35,976 shares of the company's stock, valued at $2,302,104.24. This represents a 13.26% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

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.