Blackbaud (NASDAQ:BLKB) Sets New 12-Month Low After Insider Selling

Blackbaud, Inc. (NASDAQ:BLKB) hit a new 52-week low on Thursday following insider selling activity. The company traded as low as $58.00 and last traded at $57.82, with a volume of 65697 shares traded. The stock had previously closed at $59.58.

Specifically, CEO Michael P. Gianoni sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the transaction, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $62.41, for a total value of $312,050.00. Following the sale, the chief executive officer owned 382,985 shares in the company, valued at approximately $23,902,093.85. This trade represents a 1.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

BLKB has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Stifel Nicolaus set a $70.00 target price on Blackbaud in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.00.

Blackbaud Stock Up 0.6%

The firm’s 50 day moving average price is $64.88 and its two-hundred day moving average price is $64.10. The firm has a market capitalization of $2.74 billion, a PE ratio of -11.03, a P/E/G ratio of 4.75 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.69 and a debt-to-equity ratio of 9.63.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. The firm had revenue of $274.76 million during the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%. As a group, research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Blackbaud by 14.7% during 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 period. SG Capital Management LLC raised its holdings 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 buying an additional 530,320 shares during the last quarter. Greenhouse Funds LLLP acquired a new position in shares of Blackbaud during the first quarter worth approximately $31,217,000. Norges Bank acquired a new position in shares of Blackbaud during the second quarter worth approximately $31,503,000. Finally, Nuveen LLC bought a new position in Blackbaud in the 1st quarter worth approximately $25,302,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.