Blackbaud, Inc. (NASDAQ:BLKB) Holdings Trimmed by Jane Street Group LLC

Jane Street Group LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 28.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,913 shares of the technology company’s stock after selling 29,670 shares during the quarter. Jane Street Group LLC owned about 0.15% of Blackbaud worth $6,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after purchasing an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after buying an additional 235,859 shares during the last quarter. Geneva Capital Management LLC increased its holdings in shares of Blackbaud by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock valued at $99,541,000 after buying an additional 4,122 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after acquiring an additional 8,761 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Blackbaud by 1.6% during the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock worth $50,076,000 after acquiring an additional 10,203 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the sale, the chief executive officer now owns 344,079 shares of the company’s stock, valued at $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin Mcdearis sold 2,261 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total value of $192,456.32. Following the sale, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,184 shares of company stock worth $3,929,907. Insiders own 1.95% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $78.46 on Monday. The company has a market capitalization of $3.98 billion, a PE ratio of 76.92 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The company’s 50 day moving average price is $83.08 and its 200 day moving average price is $80.51. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the company posted $0.65 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James reduced their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Robert W. Baird downgraded shares of 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. Finally, Stifel Nicolaus upped their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and an average target price of $86.67.

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.