BlackBerry Limited (NYSE:BB – Get Rating) CEO John S. Chen sold 554,606 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $4.28, for a total transaction of $2,373,713.68. Following the completion of the sale, the chief executive officer now owns 6,447,738 shares in the company, valued at approximately $27,596,318.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
BlackBerry Stock Performance
Shares of NYSE BB traded up $0.34 during mid-day trading on Monday, reaching $4.75. 8,406,955 shares of the company’s stock were exchanged, compared to its average volume of 7,539,510. The firm has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $5.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -9.13 and a beta of 1.47. BlackBerry Limited has a 52 week low of $3.94 and a 52 week high of $11.43.
BlackBerry (NYSE:BB – Get Rating) last announced its quarterly earnings data on Tuesday, September 27th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. BlackBerry had a negative net margin of 2.41% and a negative return on equity of 5.57%. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $165.80 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts predict that BlackBerry Limited will post -0.27 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on BB. Royal Bank of Canada lowered their price objective on BlackBerry from $6.50 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 28th. TD Securities lowered their price target on BlackBerry from $5.00 to $4.75 and set a “reduce” rating for the company in a research report on Wednesday, September 28th. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Wednesday, October 26th. Robert W. Baird initiated coverage on shares of BlackBerry in a report on Friday, August 12th. They issued a “neutral” rating and a $7.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on shares of BlackBerry from $6.00 to $5.00 in a research report on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, BlackBerry currently has an average rating of “Hold” and an average target price of $5.85.
Hedge Funds Weigh In On BlackBerry
Several institutional investors have recently bought and sold shares of BB. FIFTHDELTA Ltd grew its stake in BlackBerry by 1.2% in the 1st quarter. FIFTHDELTA Ltd now owns 13,051,467 shares of the company’s stock valued at $97,364,000 after buying an additional 149,245 shares in the last quarter. Duality Advisers LP purchased a new position in BlackBerry during the 1st quarter valued at about $806,000. Metis Global Partners LLC bought a new stake in BlackBerry during the 1st quarter worth approximately $140,000. Pacifica Partners Inc. lifted its stake in BlackBerry by 18.2% in the 2nd quarter. Pacifica Partners Inc. now owns 13,000 shares of the company’s stock worth $76,000 after purchasing an additional 2,000 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in BlackBerry in the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 39.28% of the company’s stock.
About BlackBerry
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 BlackBerry Cyber Suite, which provides Cylance AI and machine learning-based cybersecurity solutions, including BlackBerry Protect, an EPP and available MTD solution; BlackBerry Optics, an EDR solution that provides visibility into and prevention of malicious activity; BlackBerry Guard, a managed detection and response solution; BlackBerry Gateway, an AI-empowered ZTNA solution; and BlackBerry Persona, a UEBA solution that provides authentication by validating user identity in real time.