81,804 Shares in Blackbaud, Inc. $BLKB Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the second quarter, HoldingsChannel.com reports. The fund bought 81,804 shares of the technology company’s stock, valued at approximately $2,423,000.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Blackbaud during the 2nd quarter worth approximately $177,153,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock worth $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Norges Bank bought a new position in Blackbaud in the fourth quarter valued at $29,846,000. AQR Capital Management LLC grew its position in 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 purchasing an additional 469,391 shares in the last quarter. Finally, Shapiro Capital Management LLC increased its stake in Blackbaud by 248.3% in the 3rd 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 during the last quarter. Institutional investors own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 17,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total value of $804,950.00. Following the transaction, the chief executive officer directly owned 423,264 shares of the company’s stock, valued at $20,041,550.40. This represents a 3.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Gregoire sold 22,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total value of $1,001,000.00. Following the transaction, the executive vice president owned 113,194 shares in the company, valued at $5,150,327. The trade was a 16.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 43,086 shares of company stock valued at $2,001,761. 2.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a research note on Wednesday, July 29th. Weiss Ratings upgraded Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Stifel Nicolaus lowered their price target on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Finally, Robert W. Baird set a $54.00 price objective on Blackbaud in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

Blackbaud Stock Performance

Shares of BLKB stock opened at $47.10 on Friday. Blackbaud, Inc. has a 52 week low of $25.58 and a 52 week high of $70.71. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.61 and a beta of 0.99. The company has a 50-day simple moving average of $39.41 and a 200 day simple moving average of $37.93. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.10. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The firm had revenue of $290.60 million for the quarter, compared to analysts’ expectations of $292.23 million. During the same period in the prior year, the firm earned $1.21 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.71 earnings per share for the current year.

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.