BlackBerry Limited (NYSE:BB) Insider Mattias Eriksson Sells 14,475 Shares of Stock

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 14,475 shares of BlackBerry stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the sale, the insider now directly owns 238,838 shares in the company, valued at $878,923.84. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BlackBerry Stock Performance

Shares of BB opened at $4.09 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50-day moving average of $2.86 and a 200-day moving average of $2.56. The company has a market cap of $2.42 billion, a PE ratio of -16.36 and a beta of 1.30. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.11.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. CIBC raised their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 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 report on Friday, December 20th. Royal Bank of Canada raised their target price on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. Finally, TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.60.

Institutional Investors Weigh In On BlackBerry

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares during the period. EdgePoint Investment Group Inc. raised its holdings in BlackBerry by 15.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after acquiring an additional 1,637,916 shares during the period. Potrero Capital Research LLC acquired a new stake in BlackBerry during the third quarter worth approximately $2,359,000. Cubist Systematic Strategies LLC boosted its holdings in shares of BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after acquiring an additional 488,934 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in shares of BlackBerry in the third quarter valued at approximately $1,285,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.