Blackbaud (NASDAQ:BLKB) Shares Gap Down – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) shares gapped down before the market opened on Thursday . The stock had previously closed at $28.63, but opened at $27.51. Blackbaud shares last traded at $27.6450, with a volume of 44,839 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus lowered their target price on Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. Zacks Research cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $50.00 in a research note on Thursday, April 30th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.50.

Blackbaud Trading Down 1.4%

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66. The business has a 50 day moving average of $30.46 and a 200-day moving average of $42.42. The stock has a market cap of $1.30 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share for the quarter, topping 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 company had revenue of $281.14 million during the quarter, compared to the consensus estimate of $279.81 million. During the same quarter last year, the business posted $0.96 earnings per share. Blackbaud’s revenue was up 4.2% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, analysts anticipate that Blackbaud, Inc. will post 3.57 EPS for the current year.

Insider Buying and Selling

In related news, CFO Chad Anderson sold 6,205 shares of Blackbaud stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the sale, the chief financial officer owned 62,869 shares in the company, valued at approximately $1,968,428.39. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock worth $139,759,000 after buying an additional 2,205,641 shares in the last quarter. Janus Henderson Group PLC boosted its position in Blackbaud by 3.9% during the first quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company’s stock worth $60,071,000 after acquiring an additional 58,806 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Blackbaud by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock worth $61,743,000 after acquiring an additional 5,709 shares during the last quarter. Greenhouse Funds LLLP grew its stake in Blackbaud by 13.7% in the 3rd quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock worth $51,635,000 after acquiring an additional 96,457 shares during the period. Finally, Van Berkom & Associates Inc. grew its stake in Blackbaud by 16.7% in the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock worth $49,385,000 after acquiring an additional 111,388 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

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.