Insider Selling: BlackBerry Limited (NYSE:BB) SVP Sells 29,940 Shares of Stock

BlackBerry Limited (NYSE:BB) SVP Jennifer Armstrong-Owen sold 29,940 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the transaction, the senior vice president now owns 42,398 shares of the company’s stock, valued at $126,770.02. This represents a 41.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

BlackBerry Trading Down 5.0 %

Shares of BlackBerry stock opened at $3.13 on Friday. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24. The stock has a market cap of $1.86 billion, a P/E ratio of -14.20 and a beta of 1.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $4.48 and its 200-day moving average is $3.53.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $137.56 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. Equities research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BB shares. Robert W. Baird boosted their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Friday. CIBC decreased their price objective on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 target price on BlackBerry in a research note on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.12.

Institutional Investors Weigh In On BlackBerry

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in shares of BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock worth $27,000 after acquiring an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after acquiring an additional 3,811 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of BlackBerry during the 3rd quarter worth approximately $38,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of BlackBerry during the 4th quarter worth approximately $38,000. Finally, Mindset Wealth Management LLC acquired a new position in shares of BlackBerry during the 4th quarter worth approximately $38,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.