Insider Selling: Blackbaud (NASDAQ:BLKB) EVP Sells $100,691.22 in Stock

Key Points

• Blackbaud EVP David Benjamin sold 2,086 shares at an average price of $48.27, totaling $100,691.22. He retains 71,038 shares valued at approximately $3.43 million.
• Blackbaud shares traded down 0.6% to $47.47, while the company’s latest quarterly results exceeded expectations with adjusted earnings of $1.33 per share versus the $1.23 consensus estimate; revenue rose 3.3% year over year.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $48.50. Institutional investors own 94.21% of the company.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) EVP David Benjamin sold 2,086 shares of Blackbaud stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $48.27, for a total value of $100,691.22. Following the completion of the transaction, the executive vice president directly owned 71,038 shares in the company, valued at approximately $3,429,004.26. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Blackbaud Trading Down 0.6%

Blackbaud stock traded down $0.31 during mid-day trading on Wednesday, hitting $47.47. 390,716 shares of the stock were exchanged, compared to its average volume of 635,891. The firm's fifty day simple moving average is $38.22 and its two-hundred day simple moving average is $37.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a 12 month low of $25.58 and a 12 month high of $70.71. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.65 and a beta of 0.99.

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

Analyst Ratings Changes

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

Institutional Trading of Blackbaud

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Blackbaud during the second quarter valued at about $177,153,000. Northwestern Mutual Wealth Management Co. grew its holdings in Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company's stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the period. Jupiter Topco LLC bought a new stake in shares of Blackbaud in the second quarter valued at $47,145,000. Janus Henderson Group PLC grew its stake in shares of Blackbaud by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company's stock worth $60,071,000 after acquiring an additional 58,806 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Blackbaud by 2,325.2% during the second 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 last quarter. 94.21% of the stock is currently owned by institutional investors.

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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