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

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

BlackBerry Stock Up 11.1 %

BB stock opened at $4.09 on Tuesday. The firm has a 50-day moving average price of $2.86 and a 200-day moving average price of $2.56. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.11. 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 P/E ratio of -16.36 and a beta of 1.30.

BlackBerry (NYSE:BB) last issued its earnings results 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 firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.01 earnings per share. As a group, equities research analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in 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 last quarter. Toronto Dominion Bank raised its holdings in BlackBerry by 5.3% in the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after buying an additional 36,372 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 7,652 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in BlackBerry during the 3rd quarter worth approximately $410,000. Finally, Orion Portfolio Solutions LLC grew its holdings in BlackBerry by 121.1% during the 3rd 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. Institutional investors own 54.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BB shares. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. TD Cowen upgraded 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 research report on Friday, December 20th. Canaccord Genuity Group boosted their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Finally, Robert W. Baird increased their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

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.