BlackBerry Limited (NYSE:BB) CAO Jay P. Chai Sells 24,425 Shares of Stock

BlackBerry Limited (NYSE:BB - Get Free Report) CAO Jay P. Chai sold 24,425 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

BlackBerry Stock Performance

BB traded up $0.02 during midday trading on Friday, reaching $4.43. The company had a trading volume of 27,403,612 shares, compared to its average volume of 17,338,132. The business has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $2.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.54. The stock has a market cap of $2.62 billion, a PE ratio of -20.11 and a beta of 1.30.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry's revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, sell-side analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of BlackBerry by 32.7% during the second quarter. Bank of Montreal Can now owns 1,733,809 shares of the company's stock worth $4,300,000 after acquiring an additional 427,083 shares in the last quarter. Marshall Wace LLP lifted its stake in BlackBerry by 18.1% in the 2nd quarter. Marshall Wace LLP now owns 822,417 shares of the company's stock worth $2,040,000 after purchasing an additional 125,894 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company's stock valued at $1,361,000 after purchasing an additional 488,934 shares during the period. Toronto Dominion Bank grew its position in shares of BlackBerry by 38.6% during the 2nd quarter. Toronto Dominion Bank now owns 681,942 shares of the company's stock valued at $1,691,000 after purchasing an additional 190,034 shares in the last quarter. Finally, Millennium Management LLC increased 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 purchasing an additional 3,369,296 shares during the period. 54.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BB. Royal Bank of Canada lifted their target price on BlackBerry from $3.25 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, January 10th. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Monday, December 9th. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and upped their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC raised their price target on shares of BlackBerry from $3.50 to $3.60 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group upped 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. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $3.69.

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.