BlackBerry Limited (NYSE:BB) CAO Sells $11,340.50 in Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total transaction of $11,340.50. Following the sale, the chief accounting officer now owns 22,276 shares of the company’s stock, valued at approximately $82,421.20. The trade was a 12.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BlackBerry Stock Performance

Shares of BB stock traded up $0.41 during trading hours on Monday, hitting $4.09. The stock had a trading volume of 26,316,168 shares, compared to its average volume of 20,687,771. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $2.42 billion, a PE ratio of -16.36 and a beta of 1.30. The stock’s 50 day moving average is $2.86 and its 200 day moving average is $2.56. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $4.11.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period last year, the firm posted $0.01 EPS. BlackBerry’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts forecast that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in BlackBerry by 60.2% in the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after buying an additional 93,651 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of BlackBerry by 5.3% during the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after acquiring an additional 36,372 shares during the period. Geode Capital Management LLC boosted its stake in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of BlackBerry in the third quarter valued at $410,000. Finally, Orion Portfolio Solutions LLC raised its position in BlackBerry by 121.1% during the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after acquiring an additional 20,771 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BB. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. CIBC increased their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird increased their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

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.