Insider Selling: BlackBerry Limited (NYSE:BB) Insider Sells $53,268.00 in Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 14,475 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 238,838 shares in the company, valued at $878,923.84. This trade represents a 5.71 % 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.

Mattias Eriksson also recently made the following trade(s):

• On Monday, January 6th, Mattias Eriksson sold 12,680 shares of BlackBerry stock. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00.

BlackBerry Price Performance

Shares of NYSE BB opened at $4.07 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.35. The firm has a fifty day moving average of $2.89 and a 200 day moving average of $2.57.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping 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 firm had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts predict that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

Hedge funds and other institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in BlackBerry in the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of BlackBerry in the third quarter worth about $38,000. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the second quarter worth about $43,000. Finally, Signaturefd LLC boosted its position in BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Analysts Set New Price Targets

BB has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price objective on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price target on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. Robert W. Baird upped their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the company from $3.25 to $4.00 in a report on Friday, December 20th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry Company Profile

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.