BlackBerry Limited (NYSE:BB) CAO Jay P. Chai Sells 3,065 Shares

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total value of $11,340.50. Following the sale, the chief accounting officer now owns 22,276 shares of the company’s stock, valued at approximately $82,421.20. The trade was a 12.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BlackBerry Stock Up 11.1 %

NYSE:BB traded up $0.41 during trading hours on Monday, hitting $4.09. 26,316,168 shares of the stock traded hands, compared to its average volume of 20,687,771. The firm has a 50 day moving average price of $2.86 and a 200 day moving average price of $2.56. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -16.36 and a beta of 1.30. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.11. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. Equities research analysts anticipate that BlackBerry Limited will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BB. Robert W. Baird lifted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. TD Cowen 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 research report on Friday, December 20th. Finally, Royal Bank of Canada raised their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Six 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors have recently modified their holdings of BB. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares in the last quarter. TD Asset Management Inc lifted its position in shares of BlackBerry by 1.4% in the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock worth $3,740,000 after buying an additional 21,259 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry in the second quarter valued at approximately $43,000. Headlands Technologies LLC increased its stake in shares of BlackBerry by 141.4% in the second quarter. Headlands Technologies LLC now owns 806,729 shares of the company’s stock worth $2,001,000 after purchasing an additional 472,577 shares during the period. Finally, Virtu Financial LLC raised its stake in BlackBerry by 911.4% during the 2nd quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock valued at $920,000 after purchasing an additional 334,466 shares during the last quarter. Institutional investors and hedge funds 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.