Erik Anderson Sells 10,000 Shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $13.98, for a total value of $139,800.00. Following the completion of the transaction, the director directly owned 690,459 shares of the company’s stock, valued at approximately $9,652,616.82. This trade represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

BlackRock Short-Term California Muni Bond ETF stock opened at $14.60 on Friday. The business’s 50-day moving average price is $31.81 and its 200 day moving average price is $44.06. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -45.63 and a beta of 0.96. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.20. The company had revenue of $367.50 million during the quarter, compared to analysts’ expectations of $785.31 million. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) EPS.

Analysts Set New Price Targets

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

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.