Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,704 shares of the technology company’s stock after selling 580 shares during the quarter. First Hawaiian Bank’s holdings in Blackbaud were worth $348,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC raised its stake in shares of Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after acquiring an additional 235,859 shares during the period. Wellington Management Group LLP raised its position in Blackbaud by 56.0% in the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares during the period. Simcoe Capital Management LLC acquired a new position in Blackbaud during the third quarter worth $5,987,000. Kestrel Investment Management Corp purchased a new position in shares of Blackbaud during the second quarter worth $4,795,000. Finally, Millennium Management LLC grew its stake in shares of Blackbaud by 2,240.8% in the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock valued at $4,830,000 after buying an additional 60,702 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Activity

In related news, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the transaction, the chief financial officer now directly owns 140,262 shares of the company’s stock, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sarah E. Nash sold 3,100 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the sale, the director now directly owns 23,723 shares of the company’s stock, valued at approximately $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is currently owned by insiders.

Blackbaud Stock Down 1.1 %

Shares of NASDAQ:BLKB opened at $74.61 on Friday. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The firm’s 50 day moving average price is $79.87 and its 200 day moving average price is $80.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 73.15 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. Blackbaud’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. As a group, equities research analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLKB has been the topic of several research reports. Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Raymond James lowered 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. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus raised 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 assigned a buy rating to the company. Based on data from MarketBeat, Blackbaud presently 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.