Philip S. Kurtz Sells 15,005 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackBerry Stock Performance

NYSE BB opened at $2.43 on Wednesday. The stock has a market capitalization of $1.44 billion, a PE ratio of -8.38 and a beta of 1.39. The business has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $2.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.70.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 3.33% and a negative net margin of 21.66%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, research analysts predict that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BB shares. Canaccord Genuity Group decreased their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. CIBC raised BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. Cibc World Mkts raised BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird decreased their target price on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.20.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in BlackBerry during the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new stake in BlackBerry during the 2nd quarter valued at $43,000. Viewpoint Capital Management LLC bought a new stake in BlackBerry during the 2nd quarter valued at $50,000. Finally, Marathon Trading Investment Management LLC bought a new stake in BlackBerry during the 2nd quarter valued at $169,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.