Blackbaud (NASDAQ:BLKB) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Blackbaud, Inc. (NASDAQ:BLKB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $63.59 and traded as high as $64.46. Blackbaud shares last traded at $63.52, with a volume of 180,374 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BLKB. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blackbaud presently has an average rating of “Hold” and an average price target of $73.00.

Blackbaud Trading Down 1.2%

The business has a 50 day simple moving average of $61.28 and a 200 day simple moving average of $63.59. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -12.22, a price-to-earnings-growth ratio of 2.81 and a beta of 1.09.

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

Insider Buying and Selling at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 1,600 shares of the business’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 value of $90,384.00. Following the completion of the sale, the director directly owned 6,366 shares in the company, valued at approximately $359,615.34. The trade was a 20.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Gianoni sold 5,000 shares of the firm’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 transaction of $288,400.00. Following the completion of the sale, the chief executive officer owned 372,985 shares in the company, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,600 shares of company stock valued at $690,834 over the last 90 days. 1.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Glenmede Investment Management LP boosted its position in Blackbaud by 2.1% during the 3rd quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock worth $675,000 after buying an additional 215 shares during the period. GAMMA Investing LLC raised its stake in shares of Blackbaud by 46.6% during the third quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after acquiring an additional 247 shares during the last quarter. CWM LLC lifted its holdings in shares of Blackbaud by 215.9% during the second quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after purchasing an additional 313 shares during the period. Versant Capital Management Inc grew its stake in shares of Blackbaud by 68.3% in the third quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock worth $51,000 after purchasing an additional 319 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Blackbaud by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 361 shares during the period. 94.21% of the stock is currently owned by institutional investors.

About Blackbaud

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.