Insider Selling: BlackBerry Limited (NYSE:BB) CFO Sells 5,196 Shares of Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 5,196 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $15,536.04. Following the completion of the sale, the chief financial officer now owns 31,120 shares of the company’s stock, valued at approximately $93,048.80. This represents a 14.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tim Foote also recently made the following trade(s):

• On Tuesday, April 1st, Tim Foote sold 2,080 shares of BlackBerry stock. The stock was sold at an average price of $3.35, for a total value of $6,968.00.

BlackBerry Stock Down 2.1 %

Shares of BB stock opened at $2.95 on Tuesday. The firm’s fifty day moving average price is $4.61 and its two-hundred day moving average price is $3.53. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.76 billion, a P/E ratio of -13.39 and a beta of 1.30.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BB shares. Royal Bank of Canada set a $3.75 price target on BlackBerry in a research report on Thursday. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird upped 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 shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, StockNews.com lowered shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BlackBerry presently has an average rating of “Hold” and an average price target of $4.12.

Hedge Funds Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in BlackBerry by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock valued at $3,194,000 after acquiring an additional 11,899 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of BlackBerry by 10.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock valued at $1,284,000 after purchasing an additional 46,101 shares during the period. BNP Paribas Financial Markets lifted 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 valued at $428,000 after purchasing an additional 11,488 shares during the last quarter. Quantinno Capital Management LP bought a new position in BlackBerry during the third quarter worth about $38,000. Finally, State Street Corp increased its position in BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after buying an additional 24,309 shares during the last quarter. 54.48% of the stock is owned by 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.