BlackBerry Limited (NYSE:BB) Insider Sells $128,745.05 in Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $2.45, for a total value of $128,745.05. Following the sale, the insider now owns 214,440 shares of the company’s stock, valued at $525,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

BlackBerry Trading Up 1.6 %

Shares of NYSE BB opened at $2.49 on Friday. The firm’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $2.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry Limited has a 52-week low of $2.20 and a 52-week high of $5.75.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The business’s revenue for the quarter was down 61.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, research analysts predict that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds have recently made changes to their positions in BB. First Trust Advisors LP increased its stake in shares of BlackBerry by 70.1% during the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock valued at $119,657,000 after acquiring an additional 13,925,510 shares during the period. Norges Bank acquired a new position in shares of BlackBerry during the fourth quarter valued at approximately $48,775,000. CANADA LIFE ASSURANCE Co increased its stake in shares of BlackBerry by 132.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock valued at $16,631,000 after acquiring an additional 3,458,275 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of BlackBerry by 25.6% during the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock valued at $34,343,000 after acquiring an additional 2,536,966 shares during the period. Finally, Hawk Ridge Capital Management LP increased its stake in shares of BlackBerry by 39.8% during the fourth quarter. Hawk Ridge Capital Management LP now owns 6,326,400 shares of the company’s stock valued at $22,395,000 after acquiring an additional 1,800,800 shares during the period. Institutional investors own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BB. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. TD Securities decreased their price target on BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research note on Thursday, June 27th. Robert W. Baird decreased their price target on BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Canaccord Genuity Group decreased their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Finally, Raymond James cut their target price on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.20.

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.