Insider Selling: Blackbaud, Inc. (BLKB) Director Sells $73,030.00 in Stock
Blackbaud, Inc. (NASDAQ:BLKB) Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction on Monday, November 5th. The shares were sold at an average price of $73.03, for a total value of $73,030.00. Following the completion of the sale, the director now directly owns 15,051 shares of the company’s stock, valued at approximately $1,099,174.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
BLKB stock opened at $70.47 on Friday. Blackbaud, Inc. has a 12-month low of $65.51 and a 12-month high of $120.35. The company has a quick ratio of 0.77, a current ratio of 0.66 and a debt-to-equity ratio of 1.15. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 5.14 and a beta of 1.11.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Blackbaud had a return on equity of 25.79% and a net margin of 7.84%. The firm had revenue of $209.50 million during the quarter, compared to the consensus estimate of $205.50 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Blackbaud, Inc. will post 1.69 earnings per share for the current year.
BLKB has been the subject of a number of recent analyst reports. BidaskClub downgraded Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. TheStreet downgraded Blackbaud from a “b” rating to a “c+” rating in a research report on Wednesday, October 10th. Needham & Company LLC began coverage on Blackbaud in a research report on Wednesday, July 18th. They set a “hold” rating for the company. DA Davidson lowered their price target on Blackbaud from $105.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, October 9th. Finally, Benchmark downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $94.71.
Hedge funds have recently bought and sold shares of the business. FMR LLC acquired a new position in shares of Blackbaud during the third quarter worth about $129,000. BSW Wealth Partners acquired a new position in shares of Blackbaud during the third quarter worth about $265,000. FIL Ltd acquired a new position in shares of Blackbaud during the third quarter worth about $4,619,000. Bahl & Gaynor Inc. lifted its stake in shares of Blackbaud by 28.7% during the third quarter. Bahl & Gaynor Inc. now owns 42,829 shares of the technology company’s stock worth $4,346,000 after purchasing an additional 9,542 shares in the last quarter. Finally, American International Group Inc. lifted its stake in shares of Blackbaud by 1.3% during the third quarter. American International Group Inc. now owns 129,902 shares of the technology company’s stock worth $13,182,000 after purchasing an additional 1,695 shares in the last quarter.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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