First Trust Advisors LP Has $27.02 Million Position in Blackbaud, Inc. $BLKB

First Trust Advisors LP lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 420,872 shares of the technology company’s stock after purchasing an additional 12,953 shares during the quarter. First Trust Advisors LP owned 0.87% of Blackbaud worth $27,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenhouse Funds LLLP bought a new stake in shares of Blackbaud during the first quarter worth $31,217,000. Norges Bank acquired a new stake in shares of Blackbaud during the 2nd quarter valued at $31,503,000. Nuveen LLC bought a new stake in Blackbaud during the 1st quarter worth $25,302,000. Clearline Capital LP acquired a new position in Blackbaud in the 1st quarter worth about $19,052,000. Finally, Jane Street Group LLC raised its position in Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after purchasing an additional 143,533 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the sale, the director owned 6,366 shares of the company’s stock, valued at $359,615.34. This trade represents a 20.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the completion of the transaction, the chief executive officer directly owned 372,985 shares in the company, valued at approximately $21,513,774.80. This trade represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,600 shares of company stock valued at $690,834 in the last ninety days. 1.97% of the stock is currently owned by insiders.

Blackbaud Trading Up 1.6%

BLKB opened at $62.33 on Thursday. The stock has a market cap of $2.98 billion, a PE ratio of -11.99, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. Blackbaud, Inc. has a twelve month low of $54.56 and a twelve month high of $81.97. The company has a fifty day moving average of $61.29 and a 200-day moving average of $63.48.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The business had revenue of $274.76 million for the quarter. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Blackbaud 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.