Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) SVP Sells $243,950.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) SVP Jon W. Olson sold 3,500 shares of Blackbaud stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $69.70, for a total transaction of $243,950.00. Following the sale, the senior vice president now owns 47,152 shares of the company’s stock, valued at $3,286,494.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Blackbaud Trading Up 0.8 %

BLKB stock opened at $70.37 on Friday. The company has a market capitalization of $3.79 billion, a PE ratio of -73.30, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. Blackbaud, Inc. has a one year low of $43.54 and a one year high of $71.37. The company’s 50 day moving average price is $64.56 and its two-hundred day moving average price is $60.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.67.

Blackbaud (NASDAQ:BLKB – Get Rating) last issued its earnings results on Tuesday, February 14th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Blackbaud had a negative net margin of 4.68% and a positive return on equity of 8.29%. The company had revenue of $274.76 million for the quarter, compared to the consensus estimate of $278.24 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts predict that Blackbaud, Inc. will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $66.00 to $84.00 in a research note on Thursday, May 4th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLKB. Morgan Stanley increased its stake in shares of Blackbaud by 865.3% in the fourth quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock worth $233,678,000 after buying an additional 3,558,788 shares during the period. First Trust Advisors LP increased its stake in shares of Blackbaud by 2,238.8% in the first quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock worth $32,015,000 after buying an additional 511,876 shares during the period. Vanguard Group Inc. increased its stake in shares of Blackbaud by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock worth $294,361,000 after buying an additional 339,922 shares during the period. P2 Capital Partners LLC boosted its holdings in Blackbaud by 20.7% in the fourth quarter. P2 Capital Partners LLC now owns 1,650,000 shares of the technology company’s stock valued at $97,119,000 after acquiring an additional 282,655 shares in the last quarter. Finally, Norges Bank bought a new stake in Blackbaud in the fourth quarter valued at $15,731,000. 97.39% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.