Insider Selling: BlackBerry Limited (NYSE:BB) Insider Sells $50,720.00 in Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 12,680 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $50,720.00. Following the sale, the insider now owns 278,306 shares in the company, valued at $1,113,224. This represents a 4.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mattias Eriksson also recently made the following trade(s):

• On Thursday, January 2nd, Mattias Eriksson sold 14,475 shares of BlackBerry stock. The shares were sold at an average price of $3.68, for a total value of $53,268.00.

BlackBerry Price Performance

BB stock opened at $4.07 on Thursday. The company has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.35. The company has a fifty day moving average price of $2.89 and a 200-day moving average price of $2.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period in the previous year, the business earned $0.01 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts expect that BlackBerry Limited will post -0.06 EPS for the current year.

Institutional Trading of BlackBerry

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

Analyst Ratings Changes

A number of research firms have recently commented on BB. Royal Bank of Canada boosted their price target on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a report on Tuesday, December 17th. Robert W. Baird boosted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. CIBC increased their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.