Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells 20,000 Shares of Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 20,000 shares of BlackRock Short-Term California Muni Bond ETF stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.64, for a total transaction of $272,800.00. Following the transaction, the director owned 700,459 shares in the company, valued at approximately $9,554,260.76. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

BlackRock Short-Term California Muni Bond ETF Trading Up 3.8%

CALY stock traded up $0.51 during trading on Thursday, hitting $14.00. The company had a trading volume of 3,338,921 shares, compared to its average volume of 3,444,504. BlackRock Short-Term California Muni Bond ETF has a one year low of $5.42 and a one year high of $16.65. The business has a 50-day moving average of $33.26 and a 200-day moving average of $44.52. The stock has a market cap of $2.57 billion, a PE ratio of -43.75 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last issued its earnings results on Thursday, February 12th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20. The firm had revenue of $367.50 million during the quarter, compared to the consensus estimate of $785.31 million. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) earnings per share.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CALY. B. Riley Financial upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Research raised shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research note on Monday. Truist Financial boosted their target price on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, KeyCorp raised shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a report on Friday, January 16th.

BlackRock Short-Term California Muni Bond ETF Company Profile

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.