Insider Selling: BlackBerry (NYSE:BB) Insider Sells $52,085.80 in Stock

BlackBerry Limited (NYSE:BB) insider Philip Kurtz sold 6,164 shares of BlackBerry stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $8.45, for a total transaction of $52,085.80. Following the sale, the insider owned 73,109 shares in the company, valued at approximately $617,771.05. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BlackBerry Stock Performance

NYSE BB opened at $8.71 on Friday. The stock has a market cap of $5.12 billion, a P/E ratio of 48.41 and a beta of 2.20. The company’s 50-day simple moving average is $8.36 and its 200 day simple moving average is $7.95. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, research analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in BlackBerry during the second quarter worth about $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BlackBerry during the second quarter worth approximately $69,786,000. Bank of America Corp DE acquired a new stake in shares of BlackBerry during the second quarter worth approximately $64,718,000. Renaissance Technologies LLC raised its stake in shares of BlackBerry by 139.2% in the first quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock valued at $11,488,000 after acquiring an additional 2,063,153 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of BlackBerry in the second quarter valued at approximately $42,002,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BB shares. Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. TD Securities restated a “hold” rating and set a $8.00 target price on shares of BlackBerry in a research report on Friday, June 26th. TD boosted their price target on BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.86.

About BlackBerry

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.