Insider Selling: BlackBerry Limited (NYSE:BB) CAO Sells 24,425 Shares of Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

BlackBerry Stock Up 6.2 %

Shares of NYSE:BB opened at $4.35 on Wednesday. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day moving average is $3.41 and its 200-day moving average is $2.75. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -19.75 and a beta of 1.30.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in shares of BlackBerry by 32.7% in the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock worth $4,300,000 after purchasing an additional 427,083 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of BlackBerry by 18.1% in the second quarter. Marshall Wace LLP now owns 822,417 shares of the company’s stock valued at $2,040,000 after buying an additional 125,894 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after buying an additional 488,934 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of BlackBerry by 38.6% during the second quarter. Toronto Dominion Bank now owns 681,942 shares of the company’s stock valued at $1,691,000 after buying an additional 190,034 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of BlackBerry by 5,408.9% during the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock worth $8,510,000 after acquiring an additional 3,369,296 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BB shares. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. CIBC upped their price target 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 raised their price objective on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Six 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.69.

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.