Insider Selling: BlackBerry Limited (NYSE:BB) Insider Sells 52,549 Shares of Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 52,549 shares of BlackBerry stock in a transaction on Friday, June 28th. The shares were sold at an average price of $2.45, for a total value of $128,745.05. Following the completion of the sale, the insider now directly owns 214,440 shares of the company’s stock, valued at $525,378. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BlackBerry Price Performance

Shares of BlackBerry stock opened at $2.50 on Thursday. The stock’s 50-day moving average is $2.73 and its 200-day moving average is $2.91. BlackBerry Limited has a one year low of $2.20 and a one year high of $5.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $144.00 million for the quarter, compared to analyst estimates of $132.05 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The company’s quarterly revenue was down 61.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Research analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BB shares. Canaccord Genuity Group lowered their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Raymond James reduced their price target on BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a research report on Friday, June 28th. CIBC upgraded BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price target on the stock in a research report on Thursday, June 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.20.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently modified their holdings of BB. Highlander Capital Management LLC increased its position in shares of BlackBerry by 77.8% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after acquiring an additional 3,500 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of BlackBerry in the fourth quarter valued at about $58,000. Oxford Asset Management LLP acquired a new stake in shares of BlackBerry in the fourth quarter valued at about $60,000. Private Advisor Group LLC increased its position in shares of BlackBerry by 28.4% in the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $90,000 after acquiring an additional 5,645 shares during the last quarter. Finally, Breakwater Capital Group acquired a new stake in shares of BlackBerry in the fourth quarter valued at about $107,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Company Profile

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.