Erik Anderson Sells 40,000 Shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 40,000 shares of BlackRock Short-Term California Muni Bond ETF stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $13.43, for a total value of $537,200.00. Following the transaction, the director directly owned 720,459 shares of the company’s stock, valued at $9,675,764.37. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackRock Short-Term California Muni Bond ETF Trading Up 3.8%

Shares of NASDAQ CALY opened at $14.60 on Friday. The company’s 50-day moving average price is $31.81 and its 200 day moving average price is $44.06. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -45.63 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.20. The business had revenue of $367.50 million during the quarter, compared to analysts’ expectations of $785.31 million. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company earned ($0.33) EPS.

Analysts Set New Price Targets

Several equities analysts have weighed in on CALY shares. JPMorgan Chase & Co. dropped their price target on BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. B. Riley Financial upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $19.00 in a research report on Thursday, January 22nd. Truist Financial boosted their target price on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. KeyCorp raised shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research note on Friday, January 16th. Finally, Zacks Research raised shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th.

About BlackRock Short-Term California Muni Bond ETF

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.