Jane Street Group LLC Sells 29,670 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Jane Street Group LLC lessened its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 28.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,913 shares of the technology company's stock after selling 29,670 shares during the period. Jane Street Group LLC owned approximately 0.15% of Blackbaud worth $6,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DT Investment Partners LLC acquired a new position in shares of Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC boosted its stake in shares of 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 period. Blue Trust Inc. grew its position in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company's stock worth $135,000 after buying an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Blackbaud during the 3rd quarter worth $142,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in Blackbaud in the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Upgrades and Downgrades

BLKB has been the topic of a number of recent analyst reports. Baird R W cut Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird cut shares of Blackbaud from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Raymond James reduced their price target on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Finally, Stifel Nicolaus boosted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $86.67.

Insider Activity at Blackbaud

In other news, CEO Michael P. Gianoni sold 12,325 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total value of $1,026,056.25. Following the sale, the chief executive officer now directly owns 389,539 shares of the company's stock, valued at approximately $32,429,121.75. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the sale, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,184 shares of company stock worth $3,929,907 in the last quarter. 1.95% of the stock is owned by insiders.

Blackbaud Price Performance

Shares of BLKB traded down $0.08 during mid-day trading on Monday, reaching $78.38. The company had a trading volume of 351,627 shares, compared to its average volume of 230,756. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 76.84 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The company's 50 day simple moving average is $83.03 and its 200 day simple moving average is $80.52. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud 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.