Greenhouse Funds LLLP Has $51.64 Million Position in Blackbaud, Inc. $BLKB

Greenhouse Funds LLLP boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 13.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 802,904 shares of the technology company’s stock after buying an additional 96,457 shares during the period. Blackbaud comprises about 1.9% of Greenhouse Funds LLLP’s portfolio, making the stock its 26th biggest holding. Greenhouse Funds LLLP’s holdings in Blackbaud were worth $51,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in 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 buying an additional 247 shares during the period. Versant Capital Management Inc boosted its position in shares of Blackbaud by 68.3% in the third quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock valued at $51,000 after acquiring an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Blackbaud in the third quarter valued at about $61,000. Quadrant Capital Group LLC acquired a new position in shares of Blackbaud in the third quarter valued at about $115,000. Finally, State of Wyoming bought a new position in Blackbaud during the second quarter worth about $136,000. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BLKB shares. Stifel Nicolaus set a $50.00 price objective on shares of Blackbaud in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Raymond James Financial set a $60.00 price target on shares of Blackbaud in a research report on Tuesday, February 10th. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Evercore set a $55.00 price objective on Blackbaud in a research note on Wednesday, February 11th. One investment 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. According to MarketBeat.com, Blackbaud presently has an average rating of “Hold” and a consensus target price of $56.25.

Blackbaud Trading Down 0.8%

Shares of Blackbaud stock opened at $45.01 on Thursday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78. Blackbaud, Inc. has a 12-month low of $44.54 and a 12-month high of $74.88. The firm’s 50-day moving average price is $52.55 and its two-hundred day moving average price is $59.49.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $295.26 million for the quarter, compared to analyst estimates of $292.71 million. Blackbaud had a net margin of 10.19% and a return on equity of 175.57%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In related news, EVP Kevin P. Gregoire sold 2,000 shares of Blackbaud stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the transaction, the executive vice president directly owned 135,194 shares of the company’s stock, valued at $6,762,403.88. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David J. Benjamin sold 14,349 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total value of $681,147.03. Following the sale, the executive vice president owned 73,124 shares of the company’s stock, valued at $3,471,196.28. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,801 shares of company stock valued at $1,893,874 over the last three months. 1.97% of the stock is owned by insiders.

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.