Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,234 shares of the technology company’s stock after selling 4,742 shares during the quarter. Corebridge Financial Inc. owned about 0.13% of Blackbaud worth $4,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Vestcor Inc acquired a new stake in shares of Blackbaud in the 4th quarter worth approximately $75,000. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the period. KBC Group NV boosted its stake in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Blue Trust Inc. increased its position in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after purchasing an additional 333 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Blackbaud in the 4th quarter worth $216,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $62.11 on Monday. The stock’s fifty day simple moving average is $70.60 and its 200 day simple moving average is $77.47. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.53 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. Blackbaud, Inc. has a 52-week low of $61.23 and a 52-week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.33.

About Blackbaud

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.