Entropy Technologies LP Makes New Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Entropy Technologies LP purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,100 shares of the technology company’s stock, valued at approximately $377,000.

A number of other large investors have also made changes to their positions in BLKB. ArrowMark Colorado Holdings LLC boosted its stake in shares of Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after purchasing an additional 235,859 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after buying an additional 154,019 shares during the last quarter. Calamos Advisors LLC bought a new position in Blackbaud during the fourth quarter worth $6,745,000. Simcoe Capital Management LLC bought a new position in Blackbaud during the third quarter worth $5,987,000. Finally, State Street Corp increased its position in Blackbaud by 3.5% in the third quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after buying an additional 56,090 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

NASDAQ:BLKB opened at $79.08 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95. The firm has a market cap of $3.89 billion, a P/E ratio of 77.53 and a beta of 1.08. The business’s 50-day moving average price is $77.03 and its 200 day moving average price is $80.39.

Wall Street Analyst Weigh In

BLKB has been the topic of several analyst reports. Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and a consensus price target of $86.67.

Insiders Place Their Bets

In other news, CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the completion of the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at $31,039,312.95. The trade was a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony W. Boor sold 10,000 shares of Blackbaud stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares of the company’s stock, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,204 shares of company stock worth $2,909,997. 1.95% of the stock is currently owned by company insiders.

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.