BlackBerry Limited (NYSE:BB) Insider Sells $37,962.65 in Stock

BlackBerry Limited (NYSE:BB) insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

BlackBerry Price Performance

Shares of NYSE:BB opened at $2.43 on Thursday. The company’s 50-day moving average is $2.36 and its 200 day moving average is $2.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $1.43 billion, a P/E ratio of -8.36 and a beta of 1.39. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.44.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.33%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. On average, equities research analysts forecast that BlackBerry Limited will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in BlackBerry by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after acquiring an additional 149,444 shares during the period. BNP Paribas Financial Markets raised its stake in BlackBerry by 33.1% in the 4th quarter. BNP Paribas Financial Markets now owns 140,079 shares of the company’s stock valued at $496,000 after acquiring an additional 34,818 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in BlackBerry by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock valued at $27,920,000 after acquiring an additional 886,523 shares during the period. Quantbot Technologies LP bought a new stake in BlackBerry in the 1st quarter valued at about $645,000. Finally, Cubist Systematic Strategies LLC raised its stake in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after acquiring an additional 488,934 shares during the period. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BB has been the subject of several research reports. Raymond James reduced their price target on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research report on Friday, June 28th. Canaccord Genuity Group cut their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. Cibc World Mkts raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a report on Friday, September 27th. Finally, Canaccord Genuity Group cut their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, BlackBerry has an average rating of “Hold” and a consensus price target of $3.20.

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.