12,482 Shares in Blackbaud, Inc. $BLKB Bought by L2 Asset Management LLC

L2 Asset Management LLC acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,482 shares of the technology company’s stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG increased its position in Blackbaud by 35.0% during the fourth quarter. UBS Group AG now owns 164,128 shares of the technology company’s stock worth $10,393,000 after buying an additional 42,521 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Blackbaud by 16.7% in the fourth quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after acquiring an additional 111,388 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 purchasing an additional 2,205,641 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Blackbaud by 117.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company’s stock valued at $3,020,000 after acquiring an additional 54,997 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Blackbaud in the first quarter worth $1,351,000. 94.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 value of $194,278.55. Following the completion of the sale, the chief financial officer directly owned 62,869 shares of the company’s stock, valued at $1,968,428.39. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of the business’s stock in a transaction dated 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 2.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BLKB shares. Raymond James Financial restated an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a research report on Wednesday, July 29th. Stifel Nicolaus cut 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. Robert W. Baird set a $54.00 price objective on Blackbaud in a research note 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 research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.50.

Blackbaud Trading Down 1.4%

NASDAQ BLKB opened at $47.42 on Wednesday. The business has a fifty day simple moving average of $36.11 and a 200 day simple moving average of $37.87. The firm has a market capitalization of $2.15 billion, a P/E ratio of 14.82, a PEG ratio of 1.65 and a beta of 0.97. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a 12 month low of $25.58 and a 12 month high of $70.71.

Blackbaud (NASDAQ:BLKB) last released its quarterly 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. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. During the same period last year, the firm earned $1.21 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, analysts predict that Blackbaud, Inc. will post 3.71 EPS 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.