Chad Anderson Sells 6,205 Shares of Blackbaud (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Chad Anderson sold 6,205 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the sale, the chief financial officer owned 62,869 shares in the company, valued at $1,968,428.39. This represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blackbaud Stock Performance

NASDAQ BLKB opened at $28.37 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 1.00 and a beta of 1.02. The firm’s 50 day simple moving average is $35.04 and its 200 day simple moving average is $47.75. Blackbaud, Inc. has a 1 year low of $27.60 and a 1 year high of $74.88.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.81 million. Blackbaud had a net margin of 12.41% and a return on equity of 176.76%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, research analysts expect that Blackbaud, Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BLKB. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Raymond James Financial set a $60.00 price objective on shares of Blackbaud in a research note on Tuesday, February 10th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Stifel Nicolaus dropped their price objective on shares of Blackbaud from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, April 28th. Finally, Evercore set a $55.00 price objective on shares of Blackbaud in a research note on Wednesday, February 11th. One analyst has rated the stock with a 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 $52.50.

Hedge Funds Weigh In On Blackbaud

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLKB. Northwestern Mutual Wealth Management Co. lifted its stake in Blackbaud by 143,409.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Vanguard Group Inc. lifted its stake in Blackbaud by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock valued at $354,762,000 after purchasing an additional 706,695 shares during the last quarter. SG Capital Management LLC raised its stake in shares of Blackbaud by 777.3% during the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after acquiring an additional 530,320 shares during the last quarter. Norges Bank bought a new position in shares of Blackbaud during the fourth quarter valued at $29,846,000. Finally, AQR Capital Management LLC raised its stake in shares of Blackbaud by 157.3% during the fourth quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company’s stock valued at $48,617,000 after acquiring an additional 469,391 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

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.