Legal & General Group Plc Invests $2.42 Million in Blackbaud, Inc. $BLKB

Legal & General Group Plc purchased a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 81,804 shares of the technology company’s stock, valued at approximately $2,423,000. Legal & General Group Plc owned approximately 0.18% of Blackbaud at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BLKB. The Manufacturers Life Insurance Company bought a new stake in shares of Blackbaud during the second quarter worth $524,000. Sone Capital Management LLC bought a new position in shares of Blackbaud in the second quarter worth about $2,584,000. L2 Asset Management LLC acquired a new position in shares of Blackbaud during the second quarter worth approximately $370,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Blackbaud during the second quarter worth approximately $45,000. Finally, Quantbot Technologies LP bought a new stake in shares of Blackbaud during the second quarter valued at approximately $244,000. Institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Blackbaud Price Performance

Shares of BLKB stock opened at $47.10 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. Blackbaud, Inc. has a 12-month low of $25.58 and a 12-month high of $70.71. The firm has a fifty day moving average of $39.41 and a 200-day moving average of $37.93. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.10. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The firm had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. During the same period in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter 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, equities research analysts forecast that Blackbaud, Inc. will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Gianoni sold 17,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the completion of the sale, the chief executive officer directly owned 423,264 shares of the company’s stock, valued at approximately $20,041,550.40. This represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Benjamin sold 2,086 shares of Blackbaud stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $48.27, for a total transaction of $100,691.22. Following the completion of the transaction, the executive vice president directly owned 71,038 shares in the company, valued at approximately $3,429,004.26. The trade was a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,086 shares of company stock valued at $2,001,761 over the last 90 days. 2.01% of the stock is owned by company insiders.

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.