Blackbaud (NASDAQ:BLKB) CEO Sells $288,400.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael Gianoni sold 5,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the completion of the sale, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Blackbaud Price Performance

Blackbaud stock opened at $57.36 on Friday. The stock’s 50 day moving average is $64.88 and its 200 day moving average is $64.12. Blackbaud, Inc. has a one year low of $56.22 and a one year high of $88.95. The firm has a market cap of $2.74 billion, a P/E ratio of -11.03, a P/E/G ratio of 4.75 and a beta of 1.08. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $274.76 million during the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. As a group, research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

BLKB has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $70.00 target price on Blackbaud in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

Institutional Trading of Blackbaud

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Blackbaud by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after buying an additional 706,695 shares during the period. SG Capital Management LLC increased its holdings in shares of Blackbaud by 777.3% during the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after acquiring an additional 530,320 shares in the last quarter. Greenhouse Funds LLLP acquired a new position in shares of Blackbaud during the first quarter worth approximately $31,217,000. Norges Bank bought a new position in shares of Blackbaud in the 2nd quarter worth $31,503,000. Finally, Nuveen LLC acquired a new stake in Blackbaud in the 1st quarter valued at $25,302,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.