Stock Traders Buy Large Volume of BlackBerry Call Options (NYSE:BB)

BlackBerry Limited (NYSE:BB) saw unusually large options trading on Wednesday. Investors bought 37,012 call options on the stock. This represents an increase of approximately 64% compared to the average volume of 22,568 call options.

Insider Transactions at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BB. EP Wealth Advisors LLC acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its position 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 buying an additional 5,349 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $43,000. Viewpoint Capital Management LLC acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $50,000. Finally, Creative Planning lifted its position in shares of BlackBerry by 40.8% in the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after buying an additional 10,585 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Stock Up 5.0 %

Shares of NYSE:BB traded up $0.12 during mid-day trading on Wednesday, reaching $2.62. 21,192,278 shares of the stock were exchanged, compared to its average volume of 9,091,461. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.54 billion, a P/E ratio of -10.56 and a beta of 1.40. BlackBerry has a one year low of $2.01 and a one year high of $4.44. The stock’s 50 day simple moving average is $2.37 and its 200-day simple moving average is $2.57.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million during the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. As a group, equities research analysts predict that BlackBerry will post -0.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. CIBC raised BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price on the stock in a research note on Thursday, June 27th. Cibc World Mkts raised BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. TD Securities cut their target price on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Canaccord Genuity Group cut their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, Robert W. Baird cut their target price on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.20.

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.