Jennifer Armstrong-Owen Sells 29,940 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB - Get Free Report) SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

BlackBerry Price Performance

Shares of BlackBerry stock traded up $0.03 on Friday, hitting $3.17. 15,870,755 shares of the company traded hands, compared to its average volume of 13,616,283. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The business has a 50-day simple moving average of $4.45 and a 200 day simple moving average of $3.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $1.89 billion, a P/E ratio of -14.39 and a beta of 1.30.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same period in the previous year, the firm posted $0.03 EPS. BlackBerry's revenue for the quarter was down 7.3% compared to the same quarter last year. Research analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and lifted their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. TD Cowen raised 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 report on Friday, December 20th. Canaccord Genuity Group decreased their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on BlackBerry in a research note on Thursday, April 3rd. Finally, Robert W. Baird raised their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BlackBerry has an average rating of "Hold" and a consensus price target of $4.12.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BB. Milestone Asset Management LLC lifted its position in BlackBerry by 55.1% during the first quarter. Milestone Asset Management LLC now owns 228,658 shares of the company's stock valued at $862,000 after purchasing an additional 81,210 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after acquiring an additional 4,893 shares during the last quarter. Mackenzie Financial Corp grew its position in BlackBerry by 3.8% in the fourth quarter. Mackenzie Financial Corp now owns 353,306 shares of the company's stock worth $1,341,000 after acquiring an additional 13,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in BlackBerry by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,155 shares of the company's stock worth $3,074,000 after acquiring an additional 26,129 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in BlackBerry during the fourth quarter valued at approximately $2,938,000. 54.48% of the stock is owned by institutional investors.

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.