BlackBerry (NYSE:BB) Insider Sells 3,474 Shares of Stock

BlackBerry Limited (NYSE:BB) insider John Christopher Wall sold 3,474 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $9.18, for a total transaction of $31,891.32. Following the completion of the transaction, the insider directly owned 13,924 shares of the company’s stock, valued at approximately $127,822.32. The trade was a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackBerry Stock Down 2.4%

Shares of BlackBerry stock traded down $0.23 during trading hours on Monday, hitting $9.07. 15,143,937 shares of the company’s stock traded hands, compared to its average volume of 18,602,318. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a market cap of $5.33 billion, a PE ratio of 75.62 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $7.60.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $166.56 million for the quarter, compared to analysts’ expectations of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%.The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Equities research analysts anticipate that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on BB shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 target price on shares of BlackBerry in a research note on Monday, September 21st. Raymond James Financial lifted their price target on shares of BlackBerry from $4.75 to $9.50 and gave the stock a “market perform” rating in a research note on Friday, June 26th. Zacks Research downgraded shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Stifel Nicolaus assumed coverage on shares of BlackBerry in a report on Wednesday, June 24th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Canaccord Genuity Group dropped their target price on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research report on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.86.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BB. Legal & General Group Plc acquired a new position in shares of BlackBerry in the 2nd quarter worth approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in BlackBerry in the second quarter worth $69,786,000. Bank of America Corp DE acquired a new position in BlackBerry in the second quarter worth $64,718,000. BlackRock Inc. bought a new stake in BlackBerry during the second quarter valued at $42,002,000. Finally, Primecap Management Co. CA bought a new stake in BlackBerry during the second quarter valued at $36,362,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.