Mattias Eriksson Sells 14,475 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 14,475 shares of the firm’s stock in a transaction dated 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 directly owns 238,838 shares in the company, valued at $878,923.84. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

BlackBerry Price Performance

BB opened at $4.07 on Wednesday. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.35. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -16.28 and a beta of 1.30. 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 fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.57.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) 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%. BlackBerry’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. Research analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BB. EP Wealth Advisors LLC bought a new position in shares of BlackBerry in the second quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in BlackBerry by 83.3% during 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 during the last quarter. Quantinno Capital Management LP bought a new stake in shares of BlackBerry in the 3rd quarter worth $38,000. Werba Rubin Papier Wealth Management purchased a new position in shares of BlackBerry in the second quarter worth $43,000. Finally, Signaturefd LLC boosted its position in shares of BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

Analyst Ratings Changes

BB has been the topic of a number of analyst reports. TD Cowen 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 research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada increased their target price on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a report on Tuesday, December 17th. Robert W. Baird boosted their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, Canaccord Genuity Group increased their price objective on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Six research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.