Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) CEO Sells $835,384.27 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the transaction, the chief executive officer now owns 344,079 shares in the company, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Blackbaud Trading Down 2.5 %

Shares of BLKB stock opened at $84.23 on Thursday. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.95. The firm has a market capitalization of $4.27 billion, a PE ratio of 82.58 and a beta of 1.03. The stock has a fifty day moving average of $83.70 and a two-hundred day moving average of $80.26. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. As a group, research analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLKB. DT Investment Partners LLC acquired a new stake in Blackbaud in the second quarter worth approximately $33,000. Quest Partners LLC lifted its holdings in shares of Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after buying an additional 413 shares during the period. TD Private Client Wealth LLC boosted its stake in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares in the last quarter. Blue Trust Inc. grew its holdings in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Blackbaud in the third quarter worth about $142,000. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLKB shares. Raymond James cut their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.67.

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.