Freestone Grove Partners LP Invests $737,000 in Blackbaud, Inc. $BLKB

Freestone Grove Partners LP purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 24,878 shares of the technology company’s stock, valued at approximately $737,000.

Several other institutional investors have also added to or reduced their stakes in BLKB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 buying an additional 361 shares in the last quarter. Jones Financial Companies Lllp increased its position in Blackbaud by 293.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company’s stock worth $478,000 after buying an additional 5,742 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Blackbaud by 26.2% during the first 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 lifted its holdings in shares of Blackbaud by 4.3% during the first 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 boosted its position in shares of Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after acquiring an additional 143,533 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 17,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were 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 in the company, valued at $20,041,550.40. This represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Chad Anderson sold 6,205 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the transaction, the chief financial officer directly owned 62,869 shares in the company, valued at approximately $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,205 shares of company stock valued at $2,000,229 over the last quarter. 2.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $48.62 on Friday. The stock has a market capitalization of $2.21 billion, a PE ratio of 15.19, a P/E/G ratio of 1.67 and a beta of 0.97. 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 has a fifty day moving average price of $37.38 and a two-hundred day moving average price of $37.96. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $70.71.

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

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.