BlackBerry (TSE:BB) Shares Down 14.2% on Insider Selling

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s stock price dropped 14.2% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as C$12.80 and last traded at C$12.84. Approximately 6,118,081 shares traded hands during trading, an increase of 55% from the average daily volume of 3,937,589 shares. The stock had previously closed at C$14.97.

Specifically, insider Philip Simon Kurtz sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of C$15.92, for a total transaction of C$477,600.00. Following the completion of the sale, the insider owned 95,158 shares of the company’s stock, valued at approximately C$1,514,915.36. This trade represents a 23.97% decrease in their ownership of the stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus set a C$12.00 target price on BlackBerry and gave the stock a “buy” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, BlackBerry has a consensus rating of “Moderate Buy” and a consensus price target of C$12.00.

BlackBerry Stock Down 14.4%

The company has a debt-to-equity ratio of 29.45, a quick ratio of 1.49 and a current ratio of 2.20. The stock has a market cap of C$7.51 billion, a price-to-earnings ratio of 128.20, a PEG ratio of 0.06 and a beta of 1.16. The firm’s 50-day simple moving average is C$12.76 and its two-hundred day simple moving average is C$7.89.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last announced its earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share (EPS) for the quarter. BlackBerry had a net margin of 10.32% and a return on equity of 8.10%. The company had revenue of C$210.94 million for the quarter. On average, sell-side analysts expect that BlackBerry Limited will post 0.0551903 EPS for the current fiscal year.

BlackBerry Company Profile

BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company’s high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.