Insider Selling: BlackBerry Limited (NYSE:BB) Insider Sells $53,268.00 in Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 14,475 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $53,268.00. Following the transaction, the insider now owns 238,838 shares in the company, valued at approximately $878,923.84. This represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BlackBerry Stock Up 11.1 %

Shares of BB traded up $0.41 during midday trading on Monday, hitting $4.09. 26,316,168 shares of the company’s stock traded hands, compared to its average volume of 20,687,771. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -16.36 and a beta of 1.30. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.11. The firm’s fifty day moving average is $2.82 and its 200-day moving average is $2.54.

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

Analysts Set New Price Targets

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

Institutional Trading of BlackBerry

Several large investors have recently bought and sold shares of BB. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the period. Geode Capital Management LLC raised its stake in BlackBerry by 2.9% in 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 during the last quarter. International Assets Investment Management LLC lifted its position in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares during the period. Signaturefd LLC lifted its position in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BlackBerry by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

About BlackBerry

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.