Norges Bank Invests $29.85 Million in Blackbaud, Inc. $BLKB

Norges Bank bought a new position in Blackbaud, Inc. (NASDAQ:BLKB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 471,351 shares of the technology company’s stock, valued at approximately $29,846,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rothschild Investment LLC boosted its holdings in shares of Blackbaud by 589.0% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Blackbaud by 380.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after buying an additional 487 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Blackbaud by 4,300.0% during the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock worth $39,000 after buying an additional 602 shares in the last quarter. Quarry LP acquired a new position in Blackbaud during the 3rd quarter worth $46,000. Finally, iSAM Funds UK Ltd acquired a new position in Blackbaud during the 3rd quarter worth $67,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Performance

BLKB stock opened at $27.86 on Wednesday. The business’s fifty day moving average is $34.39 and its 200-day moving average is $47.12. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 33.66. The company has a market cap of $1.28 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. Blackbaud, Inc. has a twelve month low of $26.66 and a twelve month high of $74.88.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $281.14 million for the quarter, compared to the consensus estimate of $279.81 million. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities research analysts forecast that Blackbaud, Inc. will post 3.57 EPS for the current year.

Analyst Ratings Changes

BLKB has been the topic of several research reports. Stifel Nicolaus reduced their price objective on Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Raymond James Financial set a $60.00 price objective on Blackbaud in a report on Tuesday, February 10th. Robert W. Baird raised Blackbaud from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $60.00 to $50.00 in a report on Thursday, April 30th. Evercore set a $55.00 price objective on Blackbaud in a report on Wednesday, February 11th. Finally, Weiss Ratings raised Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blackbaud has an average rating of “Hold” and an average target price of $52.50.

Insider Buying and Selling at Blackbaud

In other news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total value of $194,278.55. Following the transaction, the chief financial officer owned 62,869 shares of the company’s stock, valued at $1,968,428.39. This represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.97% of the stock is currently owned by company insiders.

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.