Rupal S. Hollenbeck Sells 2,500 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares of the company's stock, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $61.38 on Wednesday. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -10.62, a PEG ratio of 4.29 and a beta of 1.13. The business has a 50-day simple moving average of $63.99 and a 200 day simple moving average of $65.24. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.16. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%. The business had revenue of $281.38 million during the quarter, compared to analyst estimates of $276.48 million. During the same period in the previous year, the company posted $1.08 EPS. The firm's revenue was down 2.1% compared to the same quarter last year. On average, research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLKB has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $78.67.

Read Our Latest Research Report on Blackbaud

Institutional Trading of Blackbaud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in Blackbaud by 17.7% during the 4th quarter. LPL Financial LLC now owns 12,905 shares of the technology company's stock worth $954,000 after purchasing an additional 1,940 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Blackbaud by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company's stock worth $3,754,000 after purchasing an additional 3,017 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Blackbaud by 1,349.0% during the 4th quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company's stock worth $767,000 after purchasing an additional 9,659 shares in the last quarter. Bank of Montreal Can increased its holdings in Blackbaud by 7.1% during the 4th quarter. Bank of Montreal Can now owns 14,686 shares of the technology company's stock worth $1,086,000 after purchasing an additional 975 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Blackbaud by 1.1% during the 4th quarter. Invesco Ltd. now owns 71,288 shares of the technology company's stock worth $5,270,000 after purchasing an additional 745 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Blackbaud
• How to Invest in Small Cap Stocks
• NFL and WWE Land on ESPN—The Impact on Disney and TKO Stocks
• REIT Stocks - Best REIT Stocks to Add to Your Portfolio Today
• If Qualcomm Holds $145, Its Next Move Could Be Massive
• How to Know Which Cryptocurrency to Buy: A Guide for Investors
• Intel's White House Reset: From Political Storm to a Clearer Sky

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].