BlackBerry (NYSE:BB) CFO Tim Foote Sells 8,441 Shares of Company Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 8,441 shares of BlackBerry stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.36, for a total value of $70,566.76. Following the sale, the chief financial officer owned 71,616 shares in the company, valued at $598,709.76. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tim Foote also recently made the following trade(s):

• On Friday, October 2nd, Tim Foote sold 3,269 shares of BlackBerry stock. The shares were sold at an average price of $9.20, for a total value of $30,074.80.
• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The stock was sold at an average price of $9.14, for a total value of $152,382.08.

BlackBerry Stock Performance

BB traded up $0.03 during trading on Tuesday, hitting $8.48. 9,432,002 shares of the stock were exchanged, compared to its average volume of 18,444,422. The firm has a market capitalization of $4.98 billion, a P/E ratio of 70.63 and a beta of 2.20. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59. The stock has a fifty day moving average price of $8.38 and a two-hundred day moving average price of $7.84. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. BlackBerry’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. 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, sell-side analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. TD lifted their target price on BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, June 26th. TD Securities reissued a “hold” rating and issued a $8.00 target price on shares of BlackBerry in a report on Friday, June 26th. Finally, Canaccord Genuity Group dropped their target price on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a report on Friday, September 25th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackBerry currently has a consensus rating of “Hold” and an average price target of $9.86.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC purchased a new stake in shares of BlackBerry during the 2nd quarter worth $31,000. Integrated Wealth Concepts LLC purchased a new position in shares of BlackBerry in the 2nd quarter valued at about $31,000. Elevation Wealth Partners LLC acquired a new stake in shares of BlackBerry in the second quarter valued at about $32,000. Wealthfront Advisers LLC acquired a new stake in shares of BlackBerry in the first quarter valued at about $34,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of BlackBerry in the first quarter valued at about $37,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

About BlackBerry

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.