BlackBerry Limited (NYSE:BB) Insider Sells $128,745.05 in Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $2.45, for a total value of $128,745.05. Following the transaction, the insider now owns 214,440 shares of the company’s stock, valued at $525,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackBerry Stock Up 1.6 %

BlackBerry stock opened at $2.49 on Friday. BlackBerry Limited has a 1-year low of $2.20 and a 1-year high of $5.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s fifty day moving average is $2.73 and its two-hundred day moving average is $2.91.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The company had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. During the same period last year, the firm earned $0.04 earnings per share. BlackBerry’s quarterly revenue was down 61.4% on a year-over-year basis. On average, equities research analysts anticipate that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently made changes to their positions in BB. Highlander Capital Management LLC lifted its holdings in shares of BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after purchasing an additional 3,500 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of BlackBerry in the 4th quarter valued at about $58,000. Oxford Asset Management LLP purchased a new stake in shares of BlackBerry in the 4th quarter valued at about $60,000. Private Advisor Group LLC lifted its holdings in shares of BlackBerry by 28.4% in the 4th quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $90,000 after purchasing an additional 5,645 shares during the last quarter. Finally, Breakwater Capital Group purchased a new stake in shares of BlackBerry in the 4th quarter valued at about $107,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James lowered their price target on BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research note on Thursday, June 27th. CIBC upgraded BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price objective on the stock in a research note on Thursday, June 27th. TD Securities reduced their price objective on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, Canaccord Genuity Group reduced their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.20.

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.