Short Interest in Blackbaud, Inc. (NASDAQ:BLKB) Grows By 56.7%

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,868,069 shares, an increase of 56.7% from the January 29th total of 1,192,397 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average daily volume of 686,269 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 686,269 shares, the days-to-cover ratio is currently 2.7 days. Approximately 4.1% of the company’s stock are sold short.

Insider Buying and Selling at Blackbaud

In related news, EVP Kevin Mcdearis sold 15,462 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $46.43, for a total value of $717,900.66. Following the completion of the transaction, the executive vice president owned 91,756 shares of the company’s stock, valued at approximately $4,260,231.08. This trade represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David J. Benjamin sold 14,349 shares of Blackbaud stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total transaction of $681,147.03. Following the completion of the sale, the executive vice president owned 73,124 shares in the company, valued at $3,471,196.28. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,801 shares of company stock valued at $1,793,834 in the last 90 days. 1.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Point Inc. raised its holdings in Blackbaud by 3.2% in the 4th quarter. Trust Point Inc. now owns 6,014 shares of the technology company’s stock valued at $381,000 after acquiring an additional 184 shares during the period. Glenmede Investment Management LP grew its position in shares of Blackbaud by 2.1% in the third quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock valued at $675,000 after purchasing an additional 215 shares during the last quarter. AXQ Capital LP increased its stake in shares of Blackbaud by 3.0% during the fourth quarter. AXQ Capital LP now owns 8,307 shares of the technology company’s stock worth $526,000 after purchasing an additional 243 shares during the period. GAMMA Investing LLC lifted its holdings in Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock worth $50,000 after purchasing an additional 247 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Blackbaud by 1.0% during the 4th quarter. Comerica Bank now owns 24,847 shares of the technology company’s stock worth $1,573,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial set a $60.00 target price on Blackbaud in a report on Tuesday, February 10th. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Stifel Nicolaus set a $50.00 target price on shares of Blackbaud in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.25.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $48.54 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 12.78. The company has a market capitalization of $2.23 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.67 and a beta of 1.10. Blackbaud has a 12 month low of $45.71 and a 12 month high of $74.88. The stock has a 50 day moving average of $55.05 and a 200-day moving average of $60.40.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The business had revenue of $295.26 million for the quarter, compared to analysts’ expectations of $292.71 million. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities research analysts predict that Blackbaud will post 3.05 EPS for the current year.

Blackbaud Company Profile

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.