Mattias Eriksson Sells 14,475 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 14,475 shares of BlackBerry stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the sale, the insider now owns 238,838 shares of the company’s stock, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

BlackBerry Trading Up 11.1 %

BB traded up $0.41 during trading hours on Monday, reaching $4.09. The company’s stock had a trading volume of 26,316,168 shares, compared to its average volume of 20,687,771. The business’s 50-day moving average is $2.82 and its 200-day moving average is $2.54. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $2.42 billion, a PE ratio of -16.36 and a beta of 1.30.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same quarter last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BB shares. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Finally, CIBC boosted their price target 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 analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently modified their holdings of the company. Intact Investment Management Inc. increased its position in shares of BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in BlackBerry during the third quarter worth $1,285,000. State Street Corp grew its holdings in BlackBerry by 1.9% during the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after buying an additional 24,309 shares during the last quarter. BNP Paribas Financial Markets grew its stake in BlackBerry by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after acquiring an additional 11,488 shares during the period. Finally, Cubist Systematic Strategies LLC increased 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 purchasing an additional 488,934 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.