BlackBerry Limited (NYSE:BB) Insider Philip S. Kurtz Sells 16,217 Shares

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip S. Kurtz sold 16,217 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the transaction, the insider now directly owns 57,503 shares in the company, valued at $301,890.75. This trade represents a 22.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

BlackBerry Trading Down 3.0%

Shares of BlackBerry stock traded down $0.15 during trading on Thursday, hitting $4.73. The stock had a trading volume of 37,552,483 shares, compared to its average volume of 14,266,141. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.72 and a quick ratio of 1.72. The firm's fifty day simple moving average is $3.86 and its 200-day simple moving average is $4.04. The stock has a market cap of $2.81 billion, a PE ratio of -78.75 and a beta of 1.45.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The business had revenue of $121.26 million during the quarter, compared to the consensus estimate of $112.18 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm's quarterly revenue was down 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of BlackBerry by 10.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock worth $145,000 after purchasing an additional 3,755 shares during the period. Tower Research Capital LLC TRC lifted its holdings in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after buying an additional 3,811 shares during the period. Invesco Ltd. lifted its holdings in BlackBerry by 3.8% during the fourth quarter. Invesco Ltd. now owns 115,116 shares of the company's stock worth $435,000 after buying an additional 4,226 shares during the period. Advisory Services Network LLC lifted its stake in shares of BlackBerry by 6.6% during the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company's stock worth $268,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in BlackBerry by 16.7% during the first quarter. Hsbc Holdings PLC now owns 31,641 shares of the company's stock valued at $119,000 after purchasing an additional 4,525 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BB shares. Robert W. Baird raised their price target on BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a report on Wednesday. Royal Bank Of Canada increased their target price on BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, June 20th. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a report on Sunday. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.