Insider Selling: BlackBerry (NYSE:BB) Insider Sells $52,085.80 in Stock

BlackBerry Limited (NYSE:BB) insider Philip Kurtz sold 6,164 shares of BlackBerry stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.45, for a total transaction of $52,085.80. Following the transaction, the insider owned 73,109 shares of the company’s stock, valued at approximately $617,771.05. The trade was a 7.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BlackBerry Price Performance

Shares of BB stock traded up $0.03 during trading hours on Tuesday, hitting $8.48. The company’s stock had a trading volume of 9,433,055 shares, compared to its average volume of 18,444,422. The business has a fifty day moving average of $8.38 and a 200-day moving average of $7.84. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 70.63 and a beta of 2.20. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last issued its quarterly earnings data 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 net margin of 13.09% and a return on equity of 13.71%. The business had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same period last year, the company posted $0.04 EPS. 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. As a group, equities research analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current year.

Institutional Trading of BlackBerry

Hedge funds have recently bought and sold shares of the company. V2 Financial group LLC raised its holdings in BlackBerry by 6.8% in the 1st quarter. V2 Financial group LLC now owns 32,100 shares of the company’s stock valued at $104,000 after acquiring an additional 2,050 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of BlackBerry during the 2nd quarter worth about $31,000. CoreCap Advisors LLC purchased a new position in shares of BlackBerry during the 2nd quarter worth about $31,000. Elevation Wealth Partners LLC acquired a new stake in shares of BlackBerry in the second quarter worth approximately $32,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of BlackBerry in the second quarter worth approximately $50,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analysts Set New Price Targets

BB has been the subject of several recent research reports. Canadian Imperial Bank of Commerce raised their price target on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Raymond James Financial lifted their price objective on BlackBerry from $4.75 to $9.50 and gave the stock a “market perform” rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.86.

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.