Sone Capital Management LLC Invests $2.58 Million in Blackbaud, Inc. $BLKB

Sone Capital Management LLC purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 87,249 shares of the technology company’s stock, valued at approximately $2,584,000. Sone Capital Management LLC owned approximately 0.19% of Blackbaud at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Blackbaud by 1.6% in the 1st 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 in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Blackbaud by 293.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company’s stock valued at $478,000 after purchasing an additional 5,742 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Blackbaud by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company’s stock worth $14,225,000 after buying an additional 47,549 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Blackbaud by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company’s stock worth $6,314,000 after buying an additional 4,178 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Blackbaud by 886.2% during the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock worth $9,911,000 after buying an additional 143,533 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Trading Up 1.2%

NASDAQ BLKB opened at $48.07 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a twelve month low of $25.58 and a twelve month high of $70.71. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. The business’s fifty day moving average is $35.72 and its 200 day moving average is $37.87.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. The business had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.Blackbaud’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts expect that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Insider Activity

In other news, CFO Chad Anderson sold 6,205 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the transaction, the executive vice president owned 113,194 shares of the company’s stock, valued at approximately $5,150,327. This trade represents a 16.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Raymond James Financial reissued an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a research note on Wednesday, July 29th. Robert W. Baird set a $54.00 target price on shares of Blackbaud in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.50.

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.