BlackBerry (NYSE:BB) Director David Chaikof Acquires 5,000 Shares of Company Stock

BlackBerry Limited (NYSE:BB) Director David Chaikof bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were purchased at an average price of $8.18 per share, for a total transaction of $40,900.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $40,900. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BlackBerry Stock Down 4.3%

BB stock opened at $8.38 on Friday. The company has a 50 day moving average price of $8.46 and a two-hundred day moving average price of $6.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $4.91 billion, a P/E ratio of 51.53 and a beta of 2.23. BlackBerry Limited has a one year low of $3.12 and a one year high of $13.59.

BlackBerry (NYSE:BB) last issued 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. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The company had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. 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, sell-side analysts expect that BlackBerry Limited will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BB. Legal & General Group Plc acquired a new position in shares of BlackBerry during the 2nd quarter valued at $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BlackBerry in the 2nd quarter valued at $69,786,000. Bank of America Corp DE acquired a new stake in BlackBerry in the 2nd quarter valued at $64,718,000. BlackRock Inc. purchased a new position in BlackBerry in the second quarter valued at about $42,002,000. Finally, Primecap Management Co. CA purchased a new position in BlackBerry in the second quarter valued at about $36,362,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BB. Weiss Ratings upgraded BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a research report on Monday, September 21st. Finally, Canaccord Genuity Group lowered their target price on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a report on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.86.

About BlackBerry

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.