Michael Gianoni Sells 5,000 Shares of Blackbaud (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael Gianoni sold 5,000 shares of Blackbaud stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer directly owned 372,985 shares in the company, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Blackbaud Price Performance

NASDAQ BLKB traded down $2.58 on Thursday, reaching $57.00. The company’s stock had a trading volume of 880,923 shares, compared to its average volume of 305,581. Blackbaud, Inc. has a twelve month low of $56.84 and a twelve month high of $88.95. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.84 and a current ratio of 0.69. The firm’s 50 day moving average is $65.25 and its two-hundred day moving average is $64.18. The stock has a market cap of $2.77 billion, a PE ratio of -10.96, a PEG ratio of 4.75 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The business had revenue of $274.76 million for the quarter. As a group, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Blackbaud

A number of large investors have recently made changes to their positions in BLKB. LSV Asset Management acquired a new stake in shares of Blackbaud during the third quarter worth approximately $302,000. Azzad Asset Management Inc. ADV increased its stake in Blackbaud by 13.8% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 14,402 shares of the technology company’s stock valued at $926,000 after buying an additional 1,750 shares during the period. Envestnet Asset Management Inc. increased its stake in Blackbaud by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 151,177 shares of the technology company’s stock valued at $9,722,000 after buying an additional 3,818 shares during the period. Jackson Creek Investment Advisors LLC purchased a new stake in Blackbaud in the 3rd quarter worth approximately $1,287,000. Finally, AGF Management Ltd. boosted its stake in shares of Blackbaud by 3.0% during the 3rd quarter. AGF Management Ltd. now owns 50,057 shares of the technology company’s stock valued at $3,219,000 after buying an additional 1,453 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.