Kevin P. Gregoire Sells 8,000 Shares of Blackbaud, Inc. (NASDAQ:BLKB) 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 Blackbaud 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. This represents a 6.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded down $2.14 during midday trading on Friday, reaching $65.28. 465,430 shares of the company traded hands, compared to its average volume of 294,942. The firm has a market cap of $3.17 billion, a PE ratio of -11.29, a PEG ratio of 5.33 and a beta of 1.14. The stock's 50-day simple moving average is $63.72 and its 200-day simple moving average is $66.06. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.73 and a current ratio of 0.84.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $281.38 million during the quarter, compared to analysts' expectations of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%. The business's revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. As a group, equities analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its holdings in Blackbaud by 1.8% during the 1st 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 during the last quarter. Huntington National Bank boosted its position in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after acquiring an additional 227 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company's stock worth $143,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after purchasing an additional 268 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in Blackbaud by 8.0% in the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company's stock valued at $231,000 after acquiring an additional 275 shares during the period. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Blackbaud has an average rating of "Hold" and a consensus target price of $78.67.

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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