Walleye Capital LLC Takes Position in Blackbaud, Inc. $BLKB

Walleye Capital LLC bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 17,785 shares of the technology company’s stock, valued at approximately $527,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Blackbaud by 143,409.7% during 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 in the last quarter. Norges Bank bought a new stake in shares of Blackbaud in the 4th quarter worth $29,846,000. AQR Capital Management LLC lifted its holdings in shares of Blackbaud by 157.3% in the fourth quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company’s stock valued at $48,617,000 after buying an additional 469,391 shares during the period. Shapiro Capital Management LLC boosted its stake in Blackbaud by 248.3% during the third quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock valued at $26,958,000 after buying an additional 298,839 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Blackbaud by 2,958.2% during the first quarter. Pacer Advisors Inc. now owns 187,557 shares of the technology company’s stock valued at $7,242,000 after buying an additional 181,424 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackbaud

In other Blackbaud news, EVP Kevin P. Gregoire sold 22,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the sale, the executive vice president owned 113,194 shares in the company, valued at approximately $5,150,327. The trade was a 16.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chad Anderson sold 6,205 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the sale, the chief financial officer directly owned 62,869 shares of the company’s stock, valued at $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.01% of the company’s stock.

Blackbaud Stock Performance

BLKB opened at $45.25 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. The firm has a market cap of $2.05 billion, a PE ratio of 14.14, a P/E/G ratio of 1.55 and a beta of 0.97. The business has a fifty day simple moving average of $33.53 and a 200-day simple moving average of $38.29. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $70.71.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities analysts predict that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLKB has been the topic of several research reports. Robert W. Baird set a $54.00 price target on shares of Blackbaud in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 target price on shares of Blackbaud in a report on Wednesday, July 29th. Finally, Stifel Nicolaus dropped their target price on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Blackbaud presently has an average rating of “Hold” and an average target price of $48.50.

Blackbaud 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.