Squarepoint Ops LLC Grows Stock Holdings in Blackbaud, Inc. $BLKB

Squarepoint Ops LLC raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 711.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,309 shares of the technology company’s stock after acquiring an additional 76,549 shares during the quarter. Squarepoint Ops LLC’s holdings in Blackbaud were worth $5,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC grew its position in shares of Blackbaud by 215.9% in the second quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Blackbaud in the second quarter worth about $33,000. Parallel Advisors LLC bought a new position in shares of Blackbaud in the second quarter valued at approximately $44,000. Farther Finance Advisors LLC lifted its stake in Blackbaud by 2,168.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,301 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Blackbaud during the 2nd quarter valued at $136,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Trading Up 0.8%

BLKB stock opened at $62.90 on Monday. The company has a market capitalization of $3.01 billion, a PE ratio of -12.10, a price-to-earnings-growth ratio of 2.75 and a beta of 1.09. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. Blackbaud, Inc. has a one year low of $54.56 and a one year high of $81.39. The company’s 50 day moving average price is $61.27 and its two-hundred day moving average price is $63.51.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The company 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, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other news, 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 value of $288,400.00. Following the transaction, the chief executive officer 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rupal S. Hollenbeck sold 1,600 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $56.49, for a total transaction of $90,384.00. Following the sale, the director directly owned 6,366 shares of the company’s stock, valued at $359,615.34. The trade was a 20.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,600 shares of company stock worth $690,834. Company insiders own 1.97% of the company’s stock.

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.