Insider Selling: Blackbaud (NASDAQ:BLKB) CEO Sells 5,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael Gianoni sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $62.41, for a total value of $312,050.00. Following the transaction, the chief executive officer owned 382,985 shares of the company’s stock, valued at $23,902,093.85. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Blackbaud Stock Down 4.3%

Blackbaud stock traded down $2.58 during mid-day trading on Thursday, reaching $57.00. The stock had a trading volume of 880,923 shares, compared to its average volume of 305,581. Blackbaud, Inc. has a one year low of $56.84 and a one year high of $88.95. The company has a 50-day moving average price of $65.25 and a two-hundred day moving average price of $64.18. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -10.96, a PEG ratio of 4.75 and a beta of 1.08. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. The business had revenue of $274.76 million during the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. On average, analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Wall Street Zen cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.00.

Institutional Investors Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. boosted its holdings in shares of Blackbaud by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock worth $733,000 after buying an additional 210 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Blackbaud by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock worth $143,000 after acquiring an additional 231 shares during the period. GAMMA Investing LLC boosted its stake in shares of Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock worth $50,000 after acquiring an additional 247 shares during the last quarter. Aristides Capital LLC grew its position in shares of Blackbaud by 7.8% during the 1st quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock valued at $257,000 after acquiring an additional 298 shares during the period. Finally, CWM LLC grew its position in shares of Blackbaud by 215.9% during 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 period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.