BlackBerry Limited (NYSE:BB) CAO Jay P. Chai Sells 24,425 Shares

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

BlackBerry Trading Up 6.2 %

NYSE BB traded up $0.26 on Tuesday, hitting $4.35. 20,697,072 shares of the stock were exchanged, compared to its average volume of 18,859,438. The firm has a market capitalization of $2.57 billion, a P/E ratio of -19.75 and a beta of 1.30. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $2.75.

BlackBerry (NYSE:BB) last released its quarterly earnings data 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 2.02% and a negative net margin of 21.16%. The business had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BB has been the topic of several research analyst reports. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird boosted their target price on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Canaccord Genuity Group boosted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Finally, CIBC upped their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.69.

Institutional Trading of BlackBerry

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in 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 buying an additional 3,369,296 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after acquiring an additional 1,637,916 shares during the last quarter. Potrero Capital Research LLC acquired a new stake in shares of BlackBerry during the third quarter valued at $2,359,000. Cubist Systematic Strategies LLC lifted 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 worth $1,361,000 after buying an additional 488,934 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in shares of BlackBerry in the 3rd quarter worth about $1,285,000. 54.48% of the stock is owned by institutional investors and hedge funds.

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.