First Trust Advisors Increases Stake in Blackbaud by 12,953 Shares

First Trust Advisors LP has expanded its investment in Blackbaud, Inc. (NASDAQ: BLKB) by acquiring an additional 12,953 shares, representing a **3.2% increase** during the second quarter of 2024. This acquisition brings First Trust Advisors’ total holdings to **420,872 shares**, valued at approximately **$27.02 million**. This move reflects a growing interest in the technology company, which specializes in cloud software solutions for nonprofits and other organizations.

Several other institutional investors have also adjusted their stakes in Blackbaud. Notably, Charles Schwab Investment Management Inc. increased its position by **8.1%** in the first quarter, acquiring an additional **33,500 shares** to reach a total of **446,173 shares**, valued at about **$27.69 million**. Similarly, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Blackbaud by **11.2%**, while Invesco Ltd. expanded its stake by an impressive **26.4%** during the same period.

A significant portion of Blackbaud’s stock, **94.21%**, is currently owned by institutional investors and hedge funds. This strong institutional backing highlights confidence in Blackbaud’s potential for growth in a competitive market.

Analyst Ratings and Market Performance

Recent analysis from various research firms has varied in outlook regarding Blackbaud’s stock. Wall Street Zen upgraded its rating from “hold” to “buy” on November 9, 2024. Meanwhile, Stifel Nicolaus set a price target of **$70.00** in a report dated October 29, 2024. Conversely, Weiss Ratings maintained a “sell (d)” rating, reflecting a more cautious stance.

Currently, Blackbaud has received mixed ratings: one analyst has issued a “strong buy,” while two have rated it as a “hold,” and one has advised a “sell.” According to data from MarketBeat.com, the consensus rating remains at “hold,” with an average price target of **$73.00**.

As of Thursday, shares of Blackbaud opened at **$62.33**, showing an increase of **1.6%**. The company has a market capitalization of **$2.98 billion**, and its financial ratios indicate a **debt-to-equity ratio of 9.63** and a **price-to-earnings ratio of -11.99**. Over the past 52 weeks, the stock has fluctuated between a low of **$54.56** and a high of **$81.97**.

Blackbaud reported its quarterly earnings on March 4, 2024, posting an earnings per share (EPS) of **$0.68**. The company generated revenue of **$274.76 million** during the period, although it registered a negative net margin of **22.57%**. Analysts project that Blackbaud will achieve an EPS of **3.05** for the current fiscal year.

Insider Trading Activity

In recent insider trading activities, Rupal S. Hollenbeck, a director at Blackbaud, sold **1,600 shares** on November 21, 2024, at an average price of **$56.49**, totaling **$90,384**. Following this transaction, Hollenbeck’s remaining shares are valued at approximately **$359,615**. This sale represents a **20.09%** reduction in their ownership stake.

In another transaction, CEO Michael P. Gianoni sold **5,000 shares** on November 6, 2024, for a total of **$288,400**. After this sale, Gianoni continues to hold **372,985 shares**, valued at around **$21.51 million**, which is a **1.32%** decrease in ownership.

Over the past three months, insiders have sold a total of **11,600 shares**, worth **$690,834**. Currently, insiders own **1.97%** of Blackbaud’s total shares.

Blackbaud, Inc. specializes in providing cloud software solutions tailored for nonprofits, foundations, educational institutions, and healthcare organizations. Its offerings include a range of fundraising and engagement solutions, such as Blackbaud Raiser’s Edge NXT and Blackbaud CRM, as well as financial management solutions.

Investors and stakeholders are encouraged to monitor Blackbaud’s performance closely, especially given the significant institutional interest and the mixed ratings from analysts, as the company navigates its path in the competitive tech landscape.