Inspire Investing LLC Purchases 603 Shares of Blackbaud, Inc. $BLKB

Inspire Investing LLC increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,113 shares of the technology company’s stock after buying an additional 603 shares during the period. Inspire Investing LLC’s holdings in Blackbaud were worth $393,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BLKB. Greenhouse Funds LLLP bought a new stake in shares of Blackbaud during the 1st quarter worth $31,217,000. Nuveen LLC bought a new stake in shares of Blackbaud during the 1st quarter worth $25,302,000. Clearline Capital LP bought a new stake in shares of Blackbaud during the 1st quarter worth $19,052,000. Jane Street Group LLC boosted its holdings in shares of Blackbaud by 886.2% during the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock worth $9,911,000 after buying an additional 143,533 shares during the period. Finally, Public Sector Pension Investment Board bought a new stake in Blackbaud in the 1st quarter valued at $7,858,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLKB has been the subject of a number of research reports. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Finally, Stifel Nicolaus reduced their price target on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $70.50.

Blackbaud Price Performance

NASDAQ:BLKB opened at $63.62 on Tuesday. The company has a 50-day moving average of $65.27 and a 200-day moving average of $63.89. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 4.43 and a beta of 1.11. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The company had revenue of $274.76 million during the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In related news, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the sale, the executive vice president owned 111,156 shares in the company, valued at $8,077,706.52. This trade represents a 6.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares of the company’s stock, valued at $509,664.68. This trade represents a 23.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

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.