BlackBerry (NYSE:BB) Insider Sells 4,168 Shares of Company Stock

BlackBerry Limited (NYSE:BB) insider Philip Kurtz sold 4,168 shares of BlackBerry stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $9.18, for a total transaction of $38,262.24. Following the sale, the insider directly owned 68,365 shares of the company’s stock, valued at $627,590.70. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BlackBerry Stock Down 2.4%

BB stock traded down $0.23 during mid-day trading on Monday, hitting $9.07. The stock had a trading volume of 15,143,937 shares, compared to its average volume of 18,602,318. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 75.62 and a beta of 2.20. The company has a fifty day moving average of $8.31 and a 200 day moving average of $7.60. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59.

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

Analysts Set New Price Targets

BB has been the subject of several recent research reports. TD increased their price target on shares of BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Weiss Ratings upgraded BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Stifel Nicolaus began coverage on shares of BlackBerry in a research note on Wednesday, June 24th. They issued a “buy” rating and a $12.00 target price on the stock. Raymond James Financial upped their target price on shares of BlackBerry from $4.75 to $9.50 and gave the stock a “market perform” rating in a report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, BlackBerry presently has an average rating of “Hold” and a consensus target price of $9.86.

Hedge Funds Weigh In On BlackBerry

Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of BlackBerry during the second quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in BlackBerry in the 2nd quarter worth approximately $69,786,000. Bank of America Corp DE acquired a new position in BlackBerry during the 2nd quarter worth $64,718,000. BlackRock Inc. acquired a new position in BlackBerry during the 2nd quarter worth $42,002,000. Finally, Primecap Management Co. CA bought a new position in BlackBerry in the 2nd quarter valued at $36,362,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.