Insider Selling: BlackBerry Limited (NYSE:BB) CAO Sells 3,065 Shares of Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total value 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 Securities & Exchange Commission, which is accessible through the SEC website.

BlackBerry Trading Up 11.1 %

BB opened at $4.09 on Tuesday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -16.36 and a beta of 1.30. The firm’s 50 day moving average is $2.86 and its 200-day moving average is $2.56. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.11.

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

Analysts Set New Price Targets

BB has been the subject of several research analyst reports. 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 note on Friday, December 20th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. CIBC lifted their price target on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, BlackBerry currently has an average rating of “Moderate Buy” and an average price target of $3.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackBerry by 83.3% in the 2nd 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after buying an additional 7,652 shares during the last quarter. International Assets Investment Management LLC raised its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after acquiring an additional 7,842 shares in the last quarter. Signaturefd LLC boosted its stake in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlackBerry by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after acquiring an additional 9,156 shares in 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.