Short Interest in Blackbaud, Inc. (NASDAQ:BLKB) Expands By 56.7%

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,868,069 shares, a growth of 56.7% from the January 29th total of 1,192,397 shares. Based on an average trading volume of 686,269 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.1% of the shares of the company are short sold. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 686,269 shares, the days-to-cover ratio is currently 2.7 days.

Insider Buying and Selling

In related news, EVP Kevin Mcdearis sold 15,462 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $46.43, for a total value of $717,900.66. Following the sale, the executive vice president owned 91,756 shares in the company, valued at approximately $4,260,231.08. This trade represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David J. Benjamin sold 14,349 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total transaction of $681,147.03. Following the sale, the executive vice president owned 73,124 shares of the company’s stock, valued at approximately $3,471,196.28. This represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,801 shares of company stock worth $1,793,834. 1.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackbaud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in 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 buying an additional 313 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Blackbaud during the second quarter worth approximately $33,000. Rothschild Investment LLC raised its position in Blackbaud by 589.0% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after purchasing an additional 483 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Blackbaud by 4,300.0% in the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock valued at $39,000 after purchasing an additional 602 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Blackbaud by 380.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after purchasing an additional 487 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

Shares of NASDAQ:BLKB traded up $0.77 during trading on Monday, hitting $49.31. 52,582 shares of the company’s stock were exchanged, compared to its average volume of 479,648. The business’s 50-day simple moving average is $55.05 and its 200 day simple moving average is $60.38. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.67 and a beta of 1.11. Blackbaud has a 52-week low of $45.71 and a 52-week high of $74.88. The company has a debt-to-equity ratio of 12.78, a current ratio of 0.79 and a quick ratio of 0.79.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $295.26 million for the quarter, compared to analysts’ expectations of $292.71 million. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities analysts predict that Blackbaud will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Raymond James Financial set a $60.00 price target on Blackbaud in a report on Tuesday, February 10th. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Robert W. Baird set a $60.00 price objective on Blackbaud in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.25.

Blackbaud Company Profile

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.