Sone Capital Management LLC Purchases Shares of 87,249 Blackbaud, Inc. $BLKB

Sone Capital Management LLC purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 87,249 shares of the technology company’s stock, valued at approximately $2,584,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLKB. BlackRock Inc. bought a new stake in shares of Blackbaud in the 2nd quarter valued at $177,153,000. Northwestern Mutual Wealth Management Co. grew its holdings in Blackbaud by 143,409.7% in 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 purchasing an additional 2,205,641 shares during the period. Norges Bank bought a new stake in Blackbaud in the fourth quarter valued at $29,846,000. AQR Capital Management LLC raised its holdings in shares of 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 boosted its position in shares of Blackbaud by 248.3% during the 3rd quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock worth $26,958,000 after purchasing an additional 298,839 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $48.07 on Tuesday. The company has a market cap of $2.18 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. Blackbaud, Inc. has a 52 week low of $25.58 and a 52 week high of $70.71. The business has a 50 day moving average price of $35.72 and a 200-day moving average price of $37.87. 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 (NASDAQ:BLKB) last posted its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. The company 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%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities analysts anticipate that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of Blackbaud stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. 2.01% of the stock is currently owned by company insiders.

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.