BlackBerry (NYSE:BB) Trading Down 3.2% – Time to Sell?

BlackBerry Limited (NYSE:BB)’s share price fell 3.2% during mid-day trading on Friday . The company traded as low as $4.07 and last traded at $4.08. 3,897,596 shares changed hands during trading, a decline of 78% from the average session volume of 18,118,139 shares. The stock had previously closed at $4.21.

Analysts Set New Price Targets

A number of brokerages have issued reports on BB. Royal Bank of Canada upped their target price on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research report on Friday, January 10th. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped their price target on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group upped their price target on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

BlackBerry Stock Down 5.3 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $3.17 and a 200-day simple moving average of $2.66. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping 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 2.02% and a negative net margin of 21.16%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, sell-side analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In related news, insider Mattias Eriksson sold 14,475 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $53,268.00. Following the transaction, the insider now 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 available at the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares in the company, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,796 shares of company stock worth $823,314. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after buying an additional 7,652 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after buying an additional 7,842 shares during the last quarter. Signaturefd LLC raised its position in shares of BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares during the period. Finally, Creative Planning raised its position in shares of BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after purchasing an additional 10,585 shares during the period. Institutional investors own 54.48% of the company’s stock.

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.