BlackBerry Limited (NYSE:BB) CAO Sells $11,340.50 in Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.70, for a total value of $11,340.50. Following the completion of the transaction, the chief accounting officer now owns 22,276 shares of the company’s stock, valued at $82,421.20. This represents a 12.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

BlackBerry Stock Performance

Shares of BB opened at $4.07 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $2.57. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.35. The stock has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. As a group, analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

Institutional Trading of BlackBerry

Several large investors have recently modified their holdings of the stock. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry during the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its stake in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of BlackBerry during the third quarter valued at about $38,000. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry during the 2nd quarter worth about $43,000. Finally, International Assets Investment Management LLC grew its stake in shares of BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after buying an additional 7,842 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BB shares. CIBC raised their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday, December 17th. Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Canaccord Genuity Group upped their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BlackBerry has a consensus rating of “Moderate Buy” and a consensus target price of $3.60.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.