Michael Gianoni Sells 17,000 Shares of Blackbaud (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael Gianoni sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $47.35, for a total transaction of $804,950.00. Following the completion of the transaction, the chief executive officer owned 423,264 shares in the company, 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 SEC, which is available at the SEC website.

Blackbaud Stock Up 3.1%

Shares of NASDAQ:BLKB traded up $1.48 during trading on Thursday, reaching $48.57. 376,805 shares of the company traded hands, compared to its average volume of 642,834. The firm has a fifty day simple moving average of $36.51 and a 200 day simple moving average of $37.87. The firm has a market cap of $2.20 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.97. Blackbaud, Inc. has a 1-year low of $25.58 and a 1-year high of $70.71. 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 (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The business had revenue of $290.60 million for the quarter, compared to the consensus estimate of $292.23 million. During the same period in the prior year, the business posted $1.21 earnings per share. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts anticipate that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLKB has been the topic of several analyst reports. Raymond James Financial restated an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a research note on Wednesday, July 29th. Stifel Nicolaus reduced their price objective on shares of 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 objective on shares of Blackbaud in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Blackbaud in the second quarter worth $177,153,000. Northwestern Mutual Wealth Management Co. raised 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 during the last quarter. Jupiter Topco LLC bought a new stake in Blackbaud in the 2nd quarter valued at $47,145,000. California State Teachers Retirement System boosted its holdings in Blackbaud by 2,325.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,154,143 shares of the technology company’s stock valued at $34,186,000 after purchasing an additional 1,106,554 shares during the period. Finally, Norges Bank acquired a new stake in Blackbaud in the 4th quarter worth $29,846,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Company 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.