BlackBerry Limited (NYSE:BB) CAO Sells $11,340.50 in Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.70, for a total value of $11,340.50. Following the completion of the sale, the chief accounting officer now owns 22,276 shares of the company’s stock, valued at approximately $82,421.20. The trade was a 12.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

BlackBerry Stock Up 0.2 %

Shares of NYSE:BB opened at $4.07 on Thursday. The firm has a market capitalization of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s 50-day moving average is $2.89 and its two-hundred day moving average is $2.57.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter last year, the company posted $0.01 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. Analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research 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 objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird raised their price target on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. CIBC lifted 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. Finally, Canaccord Genuity Group increased their price target 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, BlackBerry currently has an average rating of “Moderate Buy” and an average price target of $3.60.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new stake in shares of BlackBerry during the second quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. increased its position in shares of BlackBerry by 83.3% in 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 acquired a new stake in shares of BlackBerry in the 3rd quarter valued at $38,000. Werba Rubin Papier Wealth Management purchased a new stake in shares of BlackBerry during the 2nd quarter worth $43,000. Finally, International Assets Investment Management LLC grew its stake in shares of BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.