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 on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the sale, the insider now owns 238,838 shares of the company’s stock, valued at approximately $878,923.84. This 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 this link.

BlackBerry Stock Performance

NYSE:BB opened at $4.07 on Wednesday. The stock has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.57. The stock has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.35. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Equities research analysts forecast that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BB. EP Wealth Advisors LLC bought a new stake in BlackBerry in the 2nd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. increased its position in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in BlackBerry during the third quarter valued at $38,000. Werba Rubin Papier Wealth Management bought a new position in BlackBerry during the second quarter valued at $43,000. Finally, Signaturefd LLC grew its stake in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BB. Canaccord Genuity Group increased their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada increased 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. TD Securities upgraded shares of 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 report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.