First Trust Advisors LP Sells 98,792 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

First Trust Advisors LP decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 23.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 322,328 shares of the technology company’s stock after selling 98,792 shares during the period. First Trust Advisors LP owned approximately 0.61% of Blackbaud worth $18,993,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Strs Ohio purchased a new stake in shares of Blackbaud during the fourth quarter worth about $64,000. Captrust Financial Advisors grew its stake in shares of Blackbaud by 20.1% during the first quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock worth $134,000 after acquiring an additional 374 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Blackbaud by 400.8% during the first quarter. Point72 Hong Kong Ltd now owns 3,000 shares of the technology company’s stock worth $180,000 after acquiring an additional 2,401 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Blackbaud during the fourth quarter worth about $219,000. Finally, Verition Fund Management LLC purchased a new stake in Blackbaud in the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.

Blackbaud Trading Down 0.9 %

Blackbaud stock opened at $71.88 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. Blackbaud, Inc. has a 12 month low of $43.54 and a 12 month high of $73.39. The stock’s 50 day simple moving average is $66.16 and its two-hundred day simple moving average is $61.55. The firm has a market cap of $3.87 billion, a PE ratio of -74.88, a P/E/G ratio of 3.78 and a beta of 1.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird upgraded Blackbaud from a “neutral” rating to an “outperform” rating and upped their target price for the company from $66.00 to $84.00 in a research report on Thursday, May 4th. StockNews.com lowered Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday, May 12th.

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 8,384 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $55.97, for a total value of $469,252.48. Following the sale, the senior vice president now owns 50,652 shares in the company, valued at approximately $2,834,992.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Jon W. Olson sold 8,384 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $55.97, for a total transaction of $469,252.48. Following the completion of the transaction, the senior vice president now directly owns 50,652 shares of the company’s stock, valued at approximately $2,834,992.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael P. Gianoni sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $55.68, for a total value of $389,760.00. Following the transaction, the chief executive officer now directly owns 366,358 shares of the company’s stock, valued at $20,398,813.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,365 shares of company stock worth $2,703,384. Corporate insiders own 1.70% of the company’s stock.

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.