Jupiter Topco LLC Buys Shares of 1,591,665 Blackbaud, Inc. $BLKB

Jupiter Topco LLC bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,591,665 shares of the technology company’s stock, valued at approximately $47,145,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLKB. BlackRock Inc. acquired a new position in shares of Blackbaud during the 2nd quarter worth about $177,153,000. Northwestern Mutual Wealth Management Co. boosted its stake in Blackbaud by 143,409.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock worth $139,759,000 after acquiring an additional 2,205,641 shares during the last quarter. Norges Bank bought a new position in Blackbaud during the 4th quarter worth approximately $29,846,000. AQR Capital Management LLC grew its holdings in Blackbaud by 157.3% during the fourth quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company’s stock valued at $48,617,000 after purchasing an additional 469,391 shares during the period. Finally, Shapiro Capital Management LLC grew its holdings in Blackbaud by 248.3% during the third quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock valued at $26,958,000 after purchasing an additional 298,839 shares during the period. Institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

BLKB has been the topic of several analyst reports. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $55.00 price target on shares of Blackbaud in a report on Wednesday, July 29th. Stifel Nicolaus decreased their price target on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, Robert W. Baird set a $54.00 price objective on shares of Blackbaud in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.50.

Blackbaud Trading Up 3.1%

NASDAQ:BLKB opened at $48.57 on Friday. The company has a debt-to-equity ratio of 16.82, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day simple moving average is $36.94 and its 200-day simple moving average is $37.88. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $70.71. The stock has a market capitalization of $2.20 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.97.

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

Insider Activity

In other news, EVP Kevin P. Gregoire sold 22,000 shares of the company’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 value of $1,001,000.00. Following the completion of the transaction, the executive vice president owned 113,194 shares in the company, valued at $5,150,327. This represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Gianoni sold 17,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the sale, the chief executive officer directly owned 423,264 shares of the company’s stock, valued at $20,041,550.40. This represents a 3.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,205 shares of company stock worth $2,000,229 over the last quarter. 2.01% 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.