Blackbaud (NASDAQ:BLKB) Hits New 12-Month Low – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB)’s share price reached a new 52-week low on Tuesday . The company traded as low as $54.29 and last traded at $54.97, with a volume of 12359 shares. The stock had previously closed at $55.48.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Stifel Nicolaus set a $70.00 target price on Blackbaud in a research note on Wednesday, October 29th. Zacks Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Reduce” and an average target price of $73.00.

Blackbaud Trading Down 1.2%

The firm’s 50 day moving average is $60.55 and its 200 day moving average is $63.29. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $2.62 billion, a PE ratio of -10.55, a P/E/G ratio of 2.04 and a beta of 1.07.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%.The firm had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.21 million. During the same period last year, the company earned $0.99 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Blackbaud news, Director Rupal S. Hollenbeck sold 1,600 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the sale, the director directly owned 6,366 shares in the company, valued at $359,615.34. The trade was a 20.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the transaction, the chief executive officer owned 372,985 shares in the company, valued at $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,600 shares of company stock valued at $690,834. 1.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLKB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Blackbaud by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 361 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Blackbaud by 293.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company’s stock worth $478,000 after buying an additional 5,742 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Blackbaud by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company’s stock valued at $14,225,000 after buying an additional 47,549 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Blackbaud by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company’s stock valued at $6,314,000 after acquiring an additional 4,178 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock worth $9,911,000 after acquiring an additional 143,533 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.