Bank of America Corp DE Has $13.58 Million Position in Blackbaud, Inc. $BLKB

Bank of America Corp DE lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 34.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,835 shares of the technology company’s stock after selling 186,654 shares during the quarter. Bank of America Corp DE’s holdings in Blackbaud were worth $13,584,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BLKB. Altshuler Shaham Ltd bought a new position in shares of Blackbaud during the first quarter valued at about $29,000. Parallel Advisors LLC lifted its position in shares of Blackbaud by 528.0% during the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock worth $30,000 after buying an additional 660 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Blackbaud by 44.3% in the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock worth $33,000 after buying an additional 266 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of Blackbaud by 589.0% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after acquiring an additional 483 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Blackbaud by 4,300.0% in the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock valued at $39,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Blackbaud

In other news, EVP Kevin P. Gregoire sold 22,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was 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 of the company’s stock, valued at approximately $5,150,327. The trade was a 16.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Chad Anderson sold 6,205 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total value of $194,278.55. Following the sale, the chief financial officer owned 62,869 shares of the company’s stock, valued at $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.01% of the company’s stock.

Blackbaud Stock Up 2.3%

Shares of NASDAQ BLKB opened at $47.52 on Friday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 14.85, a PEG ratio of 1.59 and a beta of 0.97. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $70.71. The firm’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $37.98. The company has a debt-to-equity ratio of 16.82, a current ratio of 0.83 and a quick ratio of 0.83.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $292.23 million. During the same quarter in the prior year, the company earned $1.21 EPS. 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. As a group, analysts expect that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Blackbaud Profile

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.