BlackBerry Limited (NYSE:BB) CAO Jay P. Chai 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 dated Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total transaction of $11,340.50. Following the transaction, the chief accounting officer now owns 22,276 shares in the company, valued at $82,421.20. The trade was a 12.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

BlackBerry Stock Up 11.1 %

BB opened at $4.09 on Tuesday. The firm has a market cap of $2.42 billion, a P/E ratio of -16.36 and a beta of 1.30. The business’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $2.56. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $4.11. 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 (NYSE:BB) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $143.00 million for 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%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.01 EPS. As a group, equities research analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BB has been the topic of several research analyst reports. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock 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 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 company from $3.25 to $4.00 in a research report on Friday, December 20th. Canaccord Genuity Group lifted their price target on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.60.

Institutional Trading of BlackBerry

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of BlackBerry during the second quarter worth $28,000. Northwestern Mutual Wealth Management Co. lifted its position in 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. Quantinno Capital Management LP acquired a new stake in BlackBerry in the 3rd quarter worth about $38,000. Werba Rubin Papier Wealth Management purchased a new stake in BlackBerry in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC increased its stake in shares of 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. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.