May 22, 2023 – First Trust Advisors LP recently disclosed a decrease in its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 23.5% during the fourth quarter. According to the recent filing with the SEC, First Trust Advisors LP now owns approximately 322,328 shares of Blackbaud’s stock after selling 98,792 shares during the period. At the end of the most recent quarter, Blackbaud was valued at $18,993,000.
Blackbaud is a technology company that provides cloud-based and on-premises software solutions and related services for the global philanthropic community. Their range of solutions include fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing services for events big and small alike – all supported by analytics tools.
Analysts are bullish about Blackbaud’s future prospects in light of its impressive performance record. The company has recently been upgraded from a “neutral” rating to an “outperform” rating by Robert W. Baird who also upped their target price for the company from $66.00 to $84.00 in a research report published earlier this month.
However, not all analysts share this outlook on Blackbaud’s future potential- StockNews.com lowered its rating on Blackbaud from “buy” to “hold” just last week.
Despite mixed views within the investment community on this particular stock’s potential trajectory over time as it relates specifically to philanthropic efforts worldwide; there is no denying that technology is drastically changing how we engage in giving back- both big contributions and grassroots campaigns alike will have new ease and automation thanks largely due in part because innovation like what is being offered by companies like Blackbaud can deliver innovative new ways of cultivating charitable contributions that take full advantage of modern technology to increase efficiency and transparency.
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Shifting Shareholder Composition and Insider Sales: Implications for Blackbaud’s Future Performance
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”BLKB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Blackbaud, Inc. has been seeing changes in its shareholder composition recently, as several large investors have made modifications to their stakes in the company. One such investor is Strs Ohio, which acquired a new stake in Blackbaud during Q4 2022 at a value of around $64,000. Meanwhile, Captrust Financial Advisors increased its ownership by 20.1% in Q1 2023 and now holds 2,232 shares worth approximately $134,000. Point72 Hong Kong Ltd now owns 3,000 shares worth $180,000 after increasing its stake by 400.8% last quarter while Crossmark Global Holdings Inc. purchased a new stake worth around $219,000 during Q4 2022. Finally, Verition Fund Management LLC also purchased a new stake of approximately $225,000 in Blackbaud during Q1 of this year.
Institutional investors and hedge funds presently own approximately 97.39% of Blackbaud’s stock.
On Monday the market opened with Blackbuad’s stocks at $71.88 value with the firm having a market cap of $3.87 billion and P/E ratio of -74.88 along with DE ratio of 1.19in FY22 .
In March this year two SVP level executives- Jon W.Olson and Michael P.Gianoni sold their personal stakes amounting for$469K and $390K respectively followed by various other minor transactions done by insiders resulting in sale of over 45k shares amounting to approx.$2 Million making up to almost upto close to the entire holding size of all these insiders to just under ~2% existence on May22nd ,2023.
These developments reflect changing perceptions among investors about the future outlook for Blackbuad’s operations and financial performance amidst worsening economic conditions globally brought due to widespread pandemic outbreaks which has created volatile capital markets. It remains to be seen whether these modifications to the ownership structure of the company will have a positive or negative impact on its future performance. However, this has got many eyes rolling and it’ll be interesting to see how markets react to these changes in near future.
