Insider Selling: BlackBerry Limited (NYSE:BB) Insider Sells 15,005 Shares of Stock

BlackBerry Limited (NYSE:BB) insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BlackBerry Trading Down 7.3 %

BlackBerry stock opened at $2.43 on Wednesday. The stock has a 50-day moving average of $2.36 and a two-hundred day moving average of $2.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.70. The stock has a market cap of $1.44 billion, a PE ratio of -8.38 and a beta of 1.39.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.33% and a negative net margin of 21.66%. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group decreased their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Friday, September 27th. Robert W. Baird decreased their price objective on BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Raymond James decreased their price objective on BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of “Hold” and a consensus price target of $3.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BlackBerry by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 441,235 shares of the company’s stock valued at $1,101,000 after purchasing an additional 11,370 shares during the period. Millennium Management LLC increased its holdings in shares of BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BlackBerry in the second quarter valued at about $645,000. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.