MetLife Investment Management LLC Has $2.30 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC reduced its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,298 shares of the technology company’s stock after selling 958 shares during the quarter. MetLife Investment Management LLC owned about 0.10% of Blackbaud worth $2,304,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BLKB. First Horizon Advisors Inc. bought a new position in shares of Blackbaud during the 2nd quarter valued at about $43,000. Pacer Advisors Inc. bought a new stake in Blackbaud in the 3rd quarter valued at approximately $90,000. Lazard Asset Management LLC lifted its stake in Blackbaud by 51.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,680 shares of the technology company’s stock valued at $97,000 after acquiring an additional 572 shares in the last quarter. Captrust Financial Advisors lifted its stake in Blackbaud by 20.1% in the 1st quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $134,000 after acquiring an additional 374 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in Blackbaud by 400.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,000 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,401 shares in the last quarter. Institutional investors own 97.39% of the company’s stock.

Analyst Upgrades and Downgrades

BLKB has been the topic of several research reports. Robert W. Baird cut their target price on Blackbaud from $70.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 15th. StockNews.com cut Blackbaud from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, TheStreet upgraded Blackbaud from a “d+” rating to a “c-” rating in a research note on Friday, December 2nd.

Insider Buying and Selling

In related news, COO Kevin P. Gregoire sold 1,023 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $58.78, for a total transaction of $60,131.94. Following the transaction, the chief operating officer now directly owns 97,358 shares of the company’s stock, valued at approximately $5,722,703.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Kevin P. Gregoire sold 1,023 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $58.78, for a total transaction of $60,131.94. Following the transaction, the chief operating officer now directly owns 97,358 shares of the company’s stock, valued at approximately $5,722,703.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin Mcdearis sold 12,421 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $57.51, for a total value of $714,331.71. Following the completion of the transaction, the executive vice president now directly owns 77,605 shares in the company, valued at $4,463,063.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,444 shares of company stock valued at $890,684. 1.70% of the stock is owned by insiders.

Blackbaud Trading Down 1.5 %

Shares of Blackbaud stock opened at $57.15 on Friday. Blackbaud, Inc. has a 12-month low of $43.54 and a 12-month high of $65.40. The stock has a market cap of $3.03 billion, a P/E ratio of -64.94, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $60.30 and its 200-day moving average is $56.07.

Blackbaud (NASDAQ:BLKB – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $274.76 million for the quarter, compared to analysts’ expectations of $278.24 million. Blackbaud had a positive return on equity of 7.34% and a negative net margin of 4.29%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts predict that Blackbaud, Inc. will post 1.72 earnings per share for the current fiscal year.

Blackbaud Profile

(Get Rating)

Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.