L2 Asset Management LLC Invests $370,000 in Blackbaud, Inc. $BLKB

L2 Asset Management LLC purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 12,482 shares of the technology company’s stock, valued at approximately $370,000.

A number of other hedge funds also recently made changes to their positions in BLKB. BlackRock Inc. bought a new stake in Blackbaud during the second quarter worth about $177,153,000. Northwestern Mutual Wealth Management Co. boosted its position in Blackbaud by 143,409.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after buying an additional 2,205,641 shares during the period. Janus Henderson Group PLC grew its stake in shares of Blackbaud by 3.9% in the first quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company’s stock worth $60,071,000 after purchasing an additional 58,806 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Blackbaud by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock worth $61,743,000 after buying an additional 5,709 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its position in Blackbaud by 16.7% during the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after purchasing an additional 111,388 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Performance

BLKB opened at $47.42 on Wednesday. The firm has a market cap of $2.15 billion, a P/E ratio of 14.82, a PEG ratio of 1.65 and a beta of 0.97. The company has a debt-to-equity ratio of 16.82, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day simple moving average of $36.11 and a two-hundred day simple moving average of $37.87. Blackbaud, Inc. has a 1-year low of $25.58 and a 1-year high of $70.71.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. The business had revenue of $290.60 million for the quarter, compared to analysts’ expectations of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities analysts forecast that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the transaction, the chief financial officer directly owned 62,869 shares in the company, valued at approximately $1,968,428.39. This represents a 8.98% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of Blackbaud stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the transaction, the executive vice president directly owned 113,194 shares of the company’s stock, valued at $5,150,327. The trade was a 16.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on BLKB shares. Stifel Nicolaus reduced their target price on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Robert W. Baird set a $54.00 price objective on Blackbaud in a research report on Thursday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Blackbaud Company Profile

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.