Geode Capital Management LLC Sells 3,420 Shares of Blackbaud, Inc. $BLKB

Geode Capital Management LLC lessened its position in Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 992,257 shares of the technology company’s stock after selling 3,420 shares during the period. Geode Capital Management LLC owned 2.05% of Blackbaud worth $63,719,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BLKB. AGF Management Ltd. acquired a new position in shares of Blackbaud in the second quarter valued at approximately $3,121,000. Y Intercept Hong Kong Ltd grew its holdings in Blackbaud by 262.9% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,421 shares of the technology company’s stock worth $1,054,000 after acquiring an additional 11,896 shares during the last quarter. Triodos Investment Management BV grew its holdings in Blackbaud by 17.6% during the 2nd quarter. Triodos Investment Management BV now owns 50,000 shares of the technology company’s stock worth $3,210,000 after acquiring an additional 7,500 shares during the last quarter. Credit Industriel ET Commercial increased its position in Blackbaud by 21.1% in the 2nd quarter. Credit Industriel ET Commercial now owns 33,112 shares of the technology company’s stock valued at $2,126,000 after acquiring an additional 5,780 shares during the period. Finally, Geneva Capital Management LLC grew its stake in shares of Blackbaud by 6.6% in the second quarter. Geneva Capital Management LLC now owns 1,221,745 shares of the technology company’s stock worth $78,448,000 after purchasing an additional 75,675 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BLKB has been the subject of a number of recent research reports. Stifel Nicolaus set a $70.00 price objective on Blackbaud in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.00.

Insider Activity

In other Blackbaud news, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total transaction of $288,400.00. Following the transaction, the chief executive officer directly owned 372,985 shares in the company, valued at approximately $21,513,774.80. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.97% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $56.49 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63. The firm’s fifty day simple moving average is $63.03 and its two-hundred day simple moving average is $63.84. Blackbaud, Inc. has a 12 month low of $55.83 and a 12 month high of $88.95. The stock has a market capitalization of $2.70 billion, a P/E ratio of -10.86, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08.

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

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.