BlackBerry (NYSE:BB) Insider Sells $274,200.00 in Stock

BlackBerry Limited (NYSE:BB) insider Philip Kurtz sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $9.14, for a total transaction of $274,200.00. Following the completion of the sale, the insider directly owned 65,158 shares of the company’s stock, valued at approximately $595,544.12. This represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BlackBerry Price Performance

NYSE BB opened at $9.29 on Monday. BlackBerry Limited has a 12 month low of $3.12 and a 12 month high of $13.59. The firm has a market capitalization of $5.45 billion, a PE ratio of 77.38 and a beta of 2.20. The company’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $7.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38.

BlackBerry (NYSE:BB) last released its earnings results 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 return on equity of 13.71% and a net margin of 13.09%.The firm had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. 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 forecast that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BB shares. TD Securities restated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a research report on Friday, June 26th. Stifel Nicolaus initiated coverage on BlackBerry in a research report on Wednesday, June 24th. They set a “buy” rating and a $12.00 price objective for the company. TD lifted their target price on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Raymond James Financial boosted their target price 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, Zacks Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.86.

Hedge Funds Weigh In On BlackBerry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in BlackBerry during the 2nd quarter valued at $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BlackBerry in the second quarter worth $69,786,000. Bank of America Corp DE purchased a new position in shares of BlackBerry during the second quarter valued at $64,718,000. BlackRock Inc. acquired a new position in BlackBerry during the second quarter valued at $42,002,000. Finally, Primecap Management Co. CA purchased a new stake in BlackBerry in the 2nd quarter worth about $36,362,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.