Fmr LLC Acquires 161,776 Shares of Blackbaud, Inc. (BLKB)
Fmr LLC increased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 12,718.2% in the 4th quarter, HoldingsChannel reports. The firm owned 163,048 shares of the technology company’s stock after buying an additional 161,776 shares during the quarter. Fmr LLC’s holdings in Blackbaud were worth $10,255,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. First Hawaiian Bank raised its position in Blackbaud by 75.5% in the fourth quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock worth $27,000 after purchasing an additional 188 shares in the last quarter. Brookstone Capital Management raised its position in Blackbaud by 18.3% in the fourth quarter. Brookstone Capital Management now owns 3,217 shares of the technology company’s stock worth $202,000 after purchasing an additional 497 shares in the last quarter. Jane Street Group LLC acquired a new position in Blackbaud in the third quarter worth about $203,000. NJ State Employees Deferred Compensation Plan raised its position in Blackbaud by 33.3% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 4,000 shares of the technology company’s stock worth $252,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Flinton Capital Management LLC raised its position in Blackbaud by 5.4% in the fourth quarter. Flinton Capital Management LLC now owns 4,400 shares of the technology company’s stock worth $277,000 after purchasing an additional 224 shares in the last quarter.
In other news, Director Timothy C. K. Chou sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $77.45, for a total transaction of $58,087.50. Following the completion of the sale, the director now owns 20,514 shares of the company’s stock, valued at $1,588,809.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael P. Gianoni sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $76.35, for a total transaction of $2,290,500.00. Following the sale, the insider now directly owns 276,614 shares of the company’s stock, valued at approximately $21,119,478.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,432 shares of company stock valued at $6,661,485. Company insiders own 1.55% of the company’s stock.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.10. The company had revenue of $221.79 million during the quarter, compared to analyst estimates of $220.40 million. Blackbaud had a net margin of 5.28% and a return on equity of 24.41%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Equities analysts predict that Blackbaud, Inc. will post 1.27 earnings per share for the current year.
BLKB has been the subject of several recent research reports. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, January 2nd. DA Davidson dropped their price target on shares of Blackbaud to $65.00 and set a “neutral” rating for the company in a research report on Thursday, January 3rd. BidaskClub raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, Stephens began coverage on shares of Blackbaud in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 price target for the company. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Blackbaud presently has an average rating of “Hold” and an average price target of $88.63.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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