Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Blackbaud Inc (BLKB)

287 + Investors. Track Smart Money conviction in BLKB. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -10
Streak
2Q ▼
Buyers last Q
52%

Smart Money Signals — BLKB

Based on 290 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their BLKB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (96% of max)

96% of all-time peak
290 hedge funds hold BLKB right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +5% more funds vs a year ago

fund count last 6Q
+15 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 52% buying

159 buying147 selling
Last quarter: 159 funds bought or added vs 147 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~47 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 42 → 51 → 43 → 47. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

64% of holders stayed for 2+ years

■ 64% conviction (2yr+) ■ 18% medium ■ 18% new
186 out of 290 hedge funds have held BLKB for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -5%, value -45%

Value
-45%
Shares
-5%
Last quarter: funds added -5% more shares while total portfolio value only changed -45%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~47 new funds/quarter

47 → 42 → 51 → 43 → 47 new funds/Q
New funds entering each quarter: 42 → 51 → 43 → 47. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 71% veterans vs 20% newcomers

■ 71% veterans ■ 9% 1-2yr ■ 20% new
Entry-cohort mix of 291 holders: 207 (71%) are 2+ year veterans, 25 entered 1–2 years ago, and 59 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 35% AUM from major funds

35% from top-100 AUM funds
50 of 290 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.3
out of 10
Low Exit Risk
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BLKB

In 2026 Q1, 159 hedge funds were net buyers of BLKB (47 opened a new position, 112 added to an existing one), while 147 reduced or exited (90 trimmed, 57 sold completely) — a 52% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 35% of total institutional value in BLKB is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -10 funds (more exits than new entries). Total institutional holders: 290.

Hedge Fund Ownership: BLKB

How many hedge funds hold BLKB — quarterly history vs. share price
Quarterly hedge fund ownership of BLKB vs. share price

Market Analysis: BLKB

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BLKB

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Blackbaud Inc (BLKB) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BLKB has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
BLKB
-30.7%
XLK
+39.8%

BLKB outperformed XLK by -70.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
BLKB
-13.2%
XLK
+5.4%

Since the filing became public, BLKB outperformed XLK by -18.6% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

27 top-rated funds 0 high-conviction
Consensus
6.3
/ 10
breadth
×
Elite
0.8
/ 10
conviction
Hedge Fund Positioning: BLKB
287 + Investors

Track Smart Money conviction in BLKB. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 287 300 -4.33%
13F Shares 45M 48M -5.18%
Total Value $1.69B $3.10B -45.49%
New Positions 46 43 +3
Increased Positions 110 95 +15
Closed Positions 59 46 +13
Reduced Positions 90 127 -37
Total Calls 0 2 -100.0%
Total Puts 1 1 -
PUT/CALL Ratio 0.0 0.5 Bullish

Statistics: BLKB

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Return on Assets (ttm) --
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Income Statement & Cash Flow
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Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

287 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BLKB. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BLKB holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Clearlake Capital Group, L.P. 55.34% 9,751,837 $376.5M
2 P2 Capital Partners, LLC 8.88% 482,874 $18.6M
3 Kestrel Investment Management Corp 1.41% 61,050 $2.4M
4 Shapiro Capital Management LLC 1.25% 516,630 $19.9M
5 Tributary Capital Management, LLC 0.85% 227,346 $8.8M
6 Palisade Capital Management, LP 0.74% 577,370 $22.3M
7 Clearline Capital LP 0.70% 350,209 $13.5M
8 Corbyn Investment Management Inc/Md 0.66% 51,418 $2.0M
9 Geneva Capital Management LLC 0.59% 719,100 $27.8M
10 Clark Estates Inc/Ny 0.44% 47,300 $1.8M
11 Aristides Capital LLC 0.40% 48,186 $1.9M
12 SG Capital Management LLC 0.32% 122,966 $4.7M
13 Amicus Financial Advisors, LLC 0.25% 23,365 $902K
14 Numerai GP LLC 0.24% 63,159 $2.4M
15 Sone Capital Management, LLC 0.23% 70,196 $2.7M
16 Triodos Investment Management BV 0.19% 66,000 $2.5M
17 Henshaw Capital LLC 0.17% 19,024 $1.3M
18 Hillsdale Investment Management Inc. 0.15% 138,100 $5.3M
19 Optimize Financial Inc 0.14% 7,294 $282K
20 Fox Run Management, L.L.C. 0.12% 18,507 $701K
21 Kesler, Norman & Wride, LLC 0.12% 17,967 $694K
22 Cinctive Capital Management LP 0.11% 42,581 $1.6M
23 Blueshift Asset Management, LLC 0.10% 8,516 $329K
24 Azzad Asset Management Inc /Adv 0.10% 25,277 $976K
25 Fuller & Thaler Asset Management, INC. 0.09% 684,507 $26.4M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Blackbaud Inc (BLKB)

What does the Smart Money Trend signal show for BLKB?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their BLKB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BLKB?

Slight buying edge — 52% buying: Last quarter: 159 funds bought or added vs 147 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for BLKB holders?

Strong quality — 35% AUM from major funds: 50 of 290 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held BLKB?

64% of holders stayed for 2+ years: 186 out of 290 hedge funds have held BLKB for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Blackbaud Inc (BLKB) following the 2026 Q1 hedge fund 13F filings?

As of today, BLKB has moved -13.2% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLK sector ETF — an outperformance of -18.6%. Since the quarter end (March 31, 2026), BLKB has gained -30.7% vs +39.8% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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