BlackBerry Limited (NYSE:BB) CAO Jay P. Chai Sells 3,065 Shares

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total transaction of $11,340.50. Following the sale, the chief accounting officer now owns 22,276 shares of the company’s stock, valued at $82,421.20. This represents a 12.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

BlackBerry Stock Performance

NYSE:BB opened at $4.07 on Thursday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -16.28 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.35. The firm’s fifty day moving average price is $2.89 and its 200 day moving average price is $2.57.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business 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 business’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. On average, sell-side analysts expect that BlackBerry Limited will post -0.06 EPS for the current year.

Hedge Funds Weigh In On BlackBerry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after buying an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in BlackBerry by 15.9% in the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after acquiring an additional 1,637,916 shares during the period. Potrero Capital Research LLC purchased a new stake in shares of BlackBerry during the 3rd quarter worth $2,359,000. Cubist Systematic Strategies LLC grew its stake in shares of BlackBerry by 815.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after purchasing an additional 488,934 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in shares of BlackBerry in the 3rd quarter valued at about $1,285,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. CIBC boosted their price target 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. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Robert W. Baird increased their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.