Clearline Capital LP Raises Stock Holdings in Blackbaud, Inc. $BLKB

Clearline Capital LP boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385,281 shares of the technology company’s stock after purchasing an additional 66,688 shares during the quarter. Blackbaud makes up 1.2% of Clearline Capital LP’s holdings, making the stock its 18th largest position. Clearline Capital LP owned about 0.81% of Blackbaud worth $24,396,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC boosted its position in Blackbaud by 589.0% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after purchasing an additional 483 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Blackbaud by 380.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after purchasing an additional 487 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Blackbaud by 4,300.0% during the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock worth $39,000 after purchasing an additional 602 shares in the last quarter. Quarry LP purchased a new position in Blackbaud during the third quarter worth approximately $46,000. Finally, Kestra Advisory Services LLC purchased a new position in Blackbaud during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Activity at Blackbaud

In related news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 62,869 shares of the company’s stock, valued at approximately $1,968,428.39. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.97% of the company’s stock.

Blackbaud Stock Performance

NASDAQ BLKB opened at $26.77 on Thursday. The company has a market cap of $1.23 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.00 and a beta of 1.02. The stock’s 50 day simple moving average is $33.13 and its 200-day simple moving average is $45.91. Blackbaud, Inc. has a 1-year low of $26.52 and a 1-year high of $74.88. The company has a debt-to-equity ratio of 33.66, a current ratio of 0.74 and a quick ratio of 0.74.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The firm had revenue of $281.14 million during the quarter, compared to analysts’ expectations of $279.81 million. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 4.2% 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 anticipate that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BLKB shares. Weiss Ratings downgraded Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Zacks Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Stifel Nicolaus decreased their target price on Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, April 28th. Finally, Robert W. Baird upgraded Blackbaud from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $60.00 to $50.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.50.

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.