BlackBerry (NYSE:BB) Insider Philip Kurtz Sells 6,164 Shares of Stock

BlackBerry Limited (NYSE:BB) insider Philip Kurtz sold 6,164 shares of BlackBerry stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.45, for a total transaction of $52,085.80. Following the sale, the insider directly owned 73,109 shares in the company, valued at $617,771.05. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BlackBerry Price Performance

BB stock opened at $8.48 on Wednesday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 49.71 and a beta of 2.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. The company has a 50 day simple moving average of $8.38 and a 200 day simple moving average of $7.87. BlackBerry Limited has a 1 year low of $3.12 and a 1 year high of $13.59.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The firm had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Research analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BB. Stifel Nicolaus began coverage on BlackBerry in a research note on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price target for the company. Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Canaccord Genuity Group reduced their price objective on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research report on Friday, September 25th. Canadian Imperial Bank of Commerce upped their target price on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a report on Friday, June 26th. Finally, Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c)” rating 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new stake in BlackBerry during the 2nd quarter worth approximately $31,000. Integrated Wealth Concepts LLC acquired a new position in BlackBerry in the 2nd quarter valued at approximately $31,000. Elevation Wealth Partners LLC acquired a new position in BlackBerry in the 2nd quarter valued at approximately $32,000. Wealthfront Advisers LLC acquired a new position in BlackBerry in the 1st quarter valued at approximately $34,000. Finally, Bank of New York Mellon Corp bought a new position in shares of BlackBerry during the first quarter valued at $37,000. Institutional investors 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.