BlackBerry Limited (NYSE:BB) CAO Sells $102,340.75 in Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BlackBerry Stock Up 1.3 %

BB opened at $4.40 on Friday. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.54. The stock’s fifty day simple moving average is $3.50 and its 200 day simple moving average is $2.77. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.60 billion, a PE ratio of -19.98 and a beta of 1.30.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS 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 return on equity of 2.02% and a negative net margin of 21.16%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. As a group, research analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. CIBC raised their price objective 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. Robert W. Baird increased their price target on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the company from $3.25 to $4.00 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in BlackBerry in the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares in the last quarter. Quantinno Capital Management LP bought a new stake in BlackBerry during the third quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry during the fourth quarter valued at approximately $38,000. Finally, Palacios Wealth Management LLC bought a new stake in BlackBerry during the fourth quarter valued at approximately $50,000. 54.48% of the stock is owned by 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.