BlackBerry (NYSE:BB) CFO Sells 16,672 Shares of Company Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 16,672 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.14, for a total value of $152,382.08. Following the completion of the sale, the chief financial officer directly owned 56,863 shares of the company’s stock, valued at $519,727.82. The trade was a 22.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, July 9th, Tim Foote sold 8,235 shares of BlackBerry stock. The shares were sold at an average price of $10.92, for a total value of $89,926.20.

BlackBerry Stock Up 1.1%

Shares of NYSE:BB traded up $0.10 during mid-day trading on Friday, hitting $9.29. 16,921,099 shares of the company traded hands, compared to its average volume of 18,619,277. The firm has a market cap of $5.45 billion, a P/E ratio of 77.38 and a beta of 2.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59. The firm’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $7.56.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $166.56 million during 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%.BlackBerry’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a research note on Monday, September 21st. Stifel Nicolaus started coverage on shares of BlackBerry in a report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Canadian Imperial Bank of Commerce lifted their target price on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Finally, TD lifted their target price on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, BlackBerry has a consensus rating of “Hold” and a consensus target price of $9.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BB. The Manufacturers Life Insurance Company grew its holdings in BlackBerry by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock worth $6,673,000 after acquiring an additional 40,350 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of BlackBerry in the 2nd quarter valued at about $31,000. Nykredit A S acquired a new stake in shares of BlackBerry in the 2nd quarter valued at about $111,000. Amundi bought a new position in shares of BlackBerry during the second quarter worth about $1,086,000. Finally, TD Waterhouse Canada Inc. grew its stake in BlackBerry by 127.3% in the second quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock worth $1,348,000 after purchasing an additional 58,818 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

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.