Jay P. Chai Sells 3,065 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 3,065 shares of BlackBerry stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.70, for a total transaction of $11,340.50. Following the transaction, the chief accounting officer now directly owns 22,276 shares of the company’s stock, valued at approximately $82,421.20. This trade represents a 12.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BlackBerry Price Performance

BlackBerry stock opened at $4.07 on Wednesday. The stock’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $2.57. The firm has a market cap of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.35.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on BB shares. TD Securities upgraded shares of 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 note on Friday, December 20th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird increased their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Six 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BB. EdgePoint Investment Group Inc. increased its stake in shares of 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 purchasing an additional 1,637,916 shares during the last quarter. Millennium Management LLC lifted its holdings 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 worth $8,510,000 after acquiring an additional 3,369,296 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of BlackBerry by 32.7% in the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock valued at $4,300,000 after purchasing an additional 427,083 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of BlackBerry by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after purchasing an additional 21,259 shares during the last quarter. Finally, Intact Investment Management Inc. increased its position in BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

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.