Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) COO Sells 5,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the chief operating officer now 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 is available through the SEC website.

Blackbaud Trading Down 0.9 %

NASDAQ:BLKB opened at $77.52 on Thursday. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50-day simple moving average is $72.67 and its 200 day simple moving average is $76.01. The firm has a market capitalization of $4.14 billion, a P/E ratio of 2,584.00, a PEG ratio of 3.43 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLKB shares. Robert W. Baird dropped 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. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLKB. Morgan Stanley lifted its stake in shares of Blackbaud by 865.3% in the fourth quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock worth $233,678,000 after buying an additional 3,558,788 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Blackbaud by 2,238.8% in the first quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock worth $32,015,000 after buying an additional 511,876 shares in the last quarter. Norges Bank bought a new position in shares of Blackbaud in the fourth quarter worth approximately $43,589,000. Vanguard Group Inc. lifted its stake in shares of Blackbaud by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock worth $294,361,000 after buying an additional 339,922 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Blackbaud by 1,371.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after buying an additional 316,992 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

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.