BlackBerry Limited (NYSE:BB) CFO Sells $15,536.04 in Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 5,196 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $15,536.04. Following the completion of the transaction, the chief financial officer now owns 31,120 shares in the company, valued at approximately $93,048.80. This represents a 14.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Tim Foote also recently made the following trade(s):

• On Tuesday, April 1st, Tim Foote sold 2,080 shares of BlackBerry stock. The stock was sold at an average price of $3.35, for a total transaction of $6,968.00.

BlackBerry Trading Down 2.1 %

Shares of BlackBerry stock opened at $2.95 on Tuesday. The firm’s 50-day moving average price is $4.61 and its two-hundred day moving average price is $3.53. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -13.39 and a beta of 1.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $137.56 million. During the same period last year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. On average, analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BB shares. Canaccord Genuity Group cut their price objective on shares of BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price target on BlackBerry in a research note on Thursday. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.12.

Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after acquiring an additional 3,811 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of BlackBerry in the 3rd quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry in the 4th quarter valued at approximately $38,000. Mindset Wealth Management LLC bought a new stake in shares of BlackBerry during the 4th quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC increased its position in BlackBerry by 100.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares in the last quarter. 54.48% of the stock is currently 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.