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

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

BlackBerry Stock Up 0.1 %

BB stock opened at $4.34 on Thursday. The company has a market cap of $2.56 billion, a PE ratio of -19.70 and a beta of 1.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $4.43. The business has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $2.76.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter last year, the business posted $0.01 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BB shares. Robert W. Baird increased their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Canaccord Genuity Group boosted their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Finally, CIBC boosted their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Hedge Funds Weigh In On BlackBerry

A number of institutional investors have recently modified their holdings of BB. Barclays PLC grew its position in BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after acquiring an additional 93,651 shares during the last quarter. Intact Investment Management Inc. increased its position in BlackBerry by 25.7% during the 3rd 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 bought a new position in BlackBerry in the 3rd quarter valued at approximately $1,285,000. State Street Corp boosted its position in BlackBerry by 1.9% in the third 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of BlackBerry by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 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.