2 weeks Ago By ABMN Staff
Clearline Capital LP decreased its position in Blackbaud, Inc. ( NASDAQ:BLKB – Free Report ) by 19.9% during the 2nd quarter, Holdings Channel reports.
The fund owned 25,671 shares of the technology company’s stock after selling 6,370 shares during the quarter. Clearline Capital LP’s holdings in Blackbaud were worth $1,955,000 as of its most recent SEC filing. A number of other institutional investors also recently added to or reduced their stakes in the company.
DT Investment Partners LLC purchased a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $33,000. Quest Partners LLC increased its holdings in Blackbaud by 2,950.0% in the second quarter.
Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after buying an additional 413 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Blackbaud in the first quarter valued at $54,000.
Parallel Advisors LLC raised its stake in Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after buying an additional 552 shares in the last quarter.
Finally, EntryPoint Capital LLC lifted its holdings in Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after buying an additional 2,078 shares during the last quarter.
Hedge funds and other institutional investors own 94.21% of the company’s stock. Blackbaud Stock Performance Shares of BLKB stock opened at $84.
10 on Friday. The stock’s 50-day moving average is $80.55 and its two-hundred day moving average is $77.
73. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.
80 and a current ratio of 0.80. Blackbaud, Inc.
has a 1 year low of $64.32 and a 1 year high of $88.56.
The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 205.12 and a beta of 1.
02. Blackbaud declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $800.00 million in outstanding shares.
This repurchase authorization permits the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Analyst Ratings Changes BLKB has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Blackbaud from $80.00 to $85.
00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Blackbaud from $88.
00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st.
Check Out Our Latest Stock Analysis on BLKB Insider Transactions at Blackbaud In related news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $76.
00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares in the company, valued at approximately $2,251,728.
The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . In other Blackbaud news, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction that occurred on Thursday, August 8th.
The stock was sold at an average price of $76.18, for a total value of $245,299.60.
Following the transaction, the director now directly owns 26,823 shares in the company, valued at approximately $2,043,376.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website .
Also, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $76.
00, for a total value of $304,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,628 shares in the company, valued at approximately $2,251,728.
The disclosure for this sale can be found here . Over the last ninety days, insiders have sold 55,409 shares of company stock worth $4,483,193. Insiders own 1.
95% of the company’s stock. About Blackbaud ( 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.
Further Reading Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. ( NASDAQ:BLKB – Free Report ).
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