Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) COO Sells $395,000.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 5,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the chief operating officer now directly owns 128,641 shares in the company, valued at approximately $10,162,639. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blackbaud Price Performance

BLKB stock opened at $77.52 on Thursday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 2,584.00, a PEG ratio of 3.43 and a beta of 1.04. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The company’s fifty day simple moving average is $72.67 and its 200 day simple moving average is $76.01.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. Blackbaud’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, analysts expect that Blackbaud, Inc. will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Blackbaud by 2.4% in the fourth quarter. US Bancorp DE now owns 5,259 shares of the technology company’s stock valued at $456,000 after buying an additional 124 shares during the period. Retirement Systems of Alabama lifted its holdings in Blackbaud by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock valued at $4,678,000 after buying an additional 163 shares during the period. Franklin Resources Inc. raised its holdings in shares of Blackbaud by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock valued at $1,113,000 after purchasing an additional 183 shares during the period. Comerica Bank raised its holdings in shares of Blackbaud by 0.9% during the fourth quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock valued at $1,792,000 after purchasing an additional 186 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in shares of Blackbaud by 4.2% during the third quarter. Guggenheim Capital LLC now owns 6,064 shares of the technology company’s stock valued at $268,000 after purchasing an additional 243 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLKB. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird reduced their price objective on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Company Profile

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.