Insider Selling: BlackBerry Limited (NYSE:BB) CAO Sells 24,425 Shares of Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

BlackBerry Stock Up 6.2 %

BlackBerry stock traded up $0.26 during trading on Tuesday, reaching $4.35. 20,697,072 shares of the company’s stock were exchanged, compared to its average volume of 18,859,438. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The company’s 50-day moving average is $3.41 and its two-hundred day moving average is $2.75. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -19.75 and a beta of 1.30. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.44.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter last year, the business earned $0.01 earnings per share. BlackBerry’s revenue was down 5.9% compared to the same quarter last year. On average, analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current year.

Institutional Trading of BlackBerry

Institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after purchasing an additional 93,651 shares during the period. Intact Investment Management Inc. boosted its stake in shares of BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of BlackBerry in the 3rd quarter valued at approximately $1,285,000. State Street Corp raised its holdings in BlackBerry by 1.9% in the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after buying an additional 24,309 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in BlackBerry by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after buying an additional 11,488 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BB shares. Royal Bank of Canada boosted their price target on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, January 10th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC boosted their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and an average target price of $3.69.

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.