Blackbaud, Inc. (NASDAQ:BLKB) EVP Sells $581,360.00 in Stock

Key Points

• Kevin P. Gregoire, Executive Vice President of Blackbaud, Inc., sold 8,000 shares of stock at an average price of $72.67, totaling $581,360.
• Blackbaud reported earnings of $1.21 EPS, exceeding analysts' expectations of $1.05, with a revenue of $281.38 million, despite a 2.1% year-over-year decrease.
• Institutional investors dominate the shareholder landscape, owning 94.21% of Blackbaud's stock, with several hedge funds increasing their positions recently.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value 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. This represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Blackbaud Stock Down 1.8%

NASDAQ:BLKB traded down $1.14 during trading hours on Tuesday, reaching $63.64. 104,275 shares of the company traded hands, compared to its average volume of 294,513. The business's 50-day moving average price is $63.88 and its two-hundred day moving average price is $65.75. The stock has a market capitalization of $3.09 billion, a P/E ratio of -10.99, a P/E/G ratio of 4.64 and a beta of 1.13. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 12.92.

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

Institutional Trading of Blackbaud

Several hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in 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 last quarter. Versant Capital Management Inc raised its position in Blackbaud by 127.4% during the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock valued at $32,000 after purchasing an additional 293 shares during the period. Parallel Advisors LLC purchased a new stake in shares of Blackbaud in the second quarter worth approximately $44,000. UMB Bank n.a. raised its holdings in shares of Blackbaud by 63.2% in the first quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after buying an additional 268 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Blackbaud by 2,168.3% in the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company's stock worth $87,000 after purchasing an additional 1,301 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLKB. Stifel Nicolaus cut their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Blackbaud has a consensus rating of "Hold" and a consensus price target of $78.67.

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.