Blackbaud (NASDAQ:BLKB) CEO Michael Gianoni Sells 17,000 Shares

Key Points

• CEO Michael Gianoni sold 17,000 Blackbaud shares at an average price of $47.35, generating approximately $804,950. Following the transaction, he retained 423,264 shares, a 3.86% reduction in his ownership.
• Blackbaud reported quarterly EPS of $1.33, beating estimates by $0.10, while revenue rose 3.3% year over year to $290.6 million, slightly below analyst expectations.
• Analysts have a consensus “Hold” rating and an average price target of $48.50; the stock recently traded at $48.57, with institutional investors owning 94.21% of shares.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) CEO Michael Gianoni sold 17,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the completion of the sale, the chief executive officer owned 423,264 shares in the company, valued at approximately $20,041,550.40. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Blackbaud Price Performance

NASDAQ BLKB traded up $1.48 on Thursday, reaching $48.57. The company's stock had a trading volume of 376,805 shares, compared to its average volume of 642,834. Blackbaud, Inc. has a twelve month low of $25.58 and a twelve month high of $70.71. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83. The firm's 50 day moving average is $36.51 and its two-hundred day moving average is $37.87. The stock has a market cap of $2.20 billion, a PE ratio of 15.18, a PEG ratio of 1.62 and a beta of 0.97.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.10. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The company had revenue of $290.60 million for the quarter, compared to analysts' expectations of $292.23 million. During the same quarter in the previous year, the company posted $1.21 EPS. The business's revenue was up 3.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts predict that Blackbaud, Inc. will post 3.71 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLKB shares. Raymond James Financial reaffirmed an "outperform" rating and set a $55.00 target price on shares of Blackbaud in a research report on Wednesday, July 29th. Weiss Ratings upgraded Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Stifel Nicolaus dropped their price target on Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Finally, Robert W. Baird set a $54.00 price objective on Blackbaud in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $48.50.

Institutional Trading of Blackbaud

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Blackbaud during the 2nd quarter worth about $177,153,000. Northwestern Mutual Wealth Management Co. grew its stake in Blackbaud by 143,409.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company's stock valued at $139,759,000 after acquiring an additional 2,205,641 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Blackbaud in the 2nd quarter valued at about $47,145,000. California State Teachers Retirement System increased its holdings in shares of Blackbaud by 2,325.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,154,143 shares of the technology company's stock valued at $34,186,000 after purchasing an additional 1,106,554 shares during the period. Finally, Norges Bank purchased a new stake in shares of Blackbaud in the fourth quarter worth approximately $29,846,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.

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