Blackbaud, Inc. (NASDAQ:BLKB) Sees Large Growth in Short Interest

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 1,868,069 shares, an increase of 56.7% from the January 29th total of 1,192,397 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 686,269 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 686,269 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.1% of the shares of the company are sold short.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $48.96 on Tuesday. The business has a fifty day simple moving average of $54.76 and a 200 day simple moving average of $60.29. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 12.78. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.67 and a beta of 1.11. Blackbaud has a one year low of $45.71 and a one year high of $74.88.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $295.26 million for the quarter, compared to analyst estimates of $292.71 million. Blackbaud had a net margin of 10.19% and a return on equity of 175.57%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Sell-side analysts expect that Blackbaud will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kevin Mcdearis sold 15,462 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $46.43, for a total transaction of $717,900.66. Following the completion of the transaction, the executive vice president directly owned 91,756 shares in the company, valued at approximately $4,260,231.08. This represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David J. Benjamin sold 14,349 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total value of $681,147.03. Following the transaction, the executive vice president directly owned 73,124 shares in the company, valued at approximately $3,471,196.28. This represents a 16.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 37,801 shares of company stock worth $1,793,834. 1.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackbaud

Several hedge funds have recently made changes to their positions in BLKB. CWM LLC increased its holdings in Blackbaud by 215.9% in the second quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Blackbaud during the 2nd quarter worth about $33,000. Rothschild Investment LLC increased its stake in shares of Blackbaud by 589.0% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after buying an additional 483 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Blackbaud by 4,300.0% in the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock valued at $39,000 after buying an additional 602 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Blackbaud by 380.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after acquiring an additional 487 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BLKB shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Stifel Nicolaus set a $50.00 price target on Blackbaud in a report on Tuesday, February 10th. Evercore set a $55.00 price objective on Blackbaud in a research report on Wednesday, February 11th. Robert W. Baird set a $60.00 target price on Blackbaud in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.25.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.