BlackBerry (NYSE:BB) CFO Sells $30,074.80 in Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 3,269 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $30,074.80. Following the completion of the sale, the chief financial officer owned 60,969 shares in the company, valued at approximately $560,914.80. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Tim Foote also recently made the following trade(s):

• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The stock was sold at an average price of $9.14, for a total transaction of $152,382.08.
• On Thursday, July 9th, Tim Foote sold 8,235 shares of BlackBerry stock. The shares were sold at an average price of $10.92, for a total transaction of $89,926.20.

BlackBerry Price Performance

Shares of BB opened at $8.78 on Thursday. The firm has a market capitalization of $5.15 billion, a PE ratio of 73.12 and a beta of 2.20. The company’s 50-day moving average is $8.37 and its 200-day moving average is $7.72. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same quarter last year, the company posted $0.04 EPS. BlackBerry’s quarterly revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Equities analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BB. Weiss Ratings upgraded BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. TD lifted their price target on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, June 26th. TD Securities restated a “hold” rating and issued a $8.00 price target on shares of BlackBerry in a research note on Friday, June 26th. Stifel Nicolaus started coverage on BlackBerry in a report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Canadian Imperial Bank of Commerce increased their price objective on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.86.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of BlackBerry by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock valued at $6,673,000 after buying an additional 40,350 shares during the period. Integrated Wealth Concepts LLC bought a new position in BlackBerry during the 2nd quarter worth $31,000. Nykredit A S bought a new position in BlackBerry during the 2nd quarter worth $111,000. Amundi acquired a new position in BlackBerry in the 2nd quarter valued at $1,086,000. Finally, TD Waterhouse Canada Inc. raised its holdings in BlackBerry by 127.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock valued at $1,348,000 after acquiring an additional 58,818 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

BlackBerry Company Profile

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.