Analyzing Blackbaud Inc. (BLKB) After Recent Trading Activity


Blackbaud Inc.’s recently made public that its EVP, Chief Commercial Officer Benjamin David J unloaded Company’s shares for reported $0.58 million on Aug 31. In the deal valued at $75.57 per share,7,628 shares were sold. As a result of this transaction, Benjamin David J now holds 68,832 shares worth roughly $ 5.24 million.

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Then, Benjamin David J sold 2,372 shares, generating $177,941 in total proceeds. Upon selling the shares at $75.02, the EVP, Chief Commercial Officer now owns 76,460 shares.

Before that, Benjamin David J sold 10,000 shares. Blackbaud Inc. shares valued at $725,059 were divested by the EVP, Chief Commercial Officer at a price of $72.51 per share. As a result of the transaction, Benjamin David J now holds 78,832 shares, worth roughly $6.0 million.

Raymond James upgraded its Blackbaud Inc. [BLKB] rating to an Outperform from a a Mkt perform in a research note published on Friday. PT values the company’s stock at a premium of 13.49 to its Friday closing price.

Price Performance Review of BLKB

On Friday, Blackbaud Inc. [NASDAQ:BLKB] saw its stock jump 0.03% to $76.13. On the same session, the stock had its day’s lowest price of $75.865, but rose to a high of $76.89. Over the last five days, the stock has gained 4.86%. Blackbaud Inc. shares have risen nearly 29.34% since the year began. Nevertheless, the stocks have risen 45.56% over the past one year. While a 52-week high of $78.71 was reached on 07/20/23, a 52-week low of $43.54 was recorded on 03/13/23. SMA at 50 days reached $73.53, while 200 days put it at $65.94. A total of 0.1 million shares were traded, compared to the trading of 0.3 million shares in the previous session.

Levels Of Support And Resistance For BLKB Stock

The 24-hour chart illustrates a support level at 75.70, which if violated will result in even more drops to 75.27. On the upside, there is a resistance level at 76.72. A further resistance level may holdings at 77.32. The Relative Strength Index (RSI) on the 14-day chart is 61.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.22, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.65%. Stochastics %K at 90.24% indicates the stock is a selling.

How much short interest is there in Blackbaud Inc.?

A steep rise in short interest was recorded in Blackbaud Inc. stocks on Aug 14, 2023, growing by 91050.0 shares to a total of 0.49 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.4 million shares. There was a rise of 18.4%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.31% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.51.

Blackbaud Inc. [BLKB] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 5,354,096 shares, or roughly 9.94% of the outstanding BLKB shares. In other words, the investor’s shares have risen by 218,726 from its previous 13-F filing of 5135370.0. Additionally, BlackRock Fund Advisors increased 0.05% of its stake after which the total value it holdings stand at $379,381,689, while Atlanta Capital Management Co. LL added 5.70% of its stake to hold $285.48 million in the firm. Over the last quarter, Janus Henderson Investors US LLC sold -2,044 shares of Blackbaud Inc., while P2 Capital Partners LLC sold 0 shares. At present, SSgA Funds Management, Inc. is holding 1,577,991 shares valued at $119.06 million. Hawk Ridge Capital Management LP owned 1,284,580 shares of the company at the time of its most recent 13F filing, worth $96.92 million.

According to FactSet, Blackbaud Inc.’s share price will average $77.40 in the next year, based on opinions of analysts polled by the firm. This is down nearly -1.46 percent from its previous closing price of $76.11. Analysts expect Blackbaud Inc. stock to reach the higher price of $88.00, while the lowest price estimate is $65.00. However, 7 analysts have rated BLKB stock as a Hold in their predictions for 2023.


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