BlackBerry Limited (NYSE:BB) Insider Sells $17,603.04 in Stock

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip S. Kurtz sold 4,056 shares of BlackBerry stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $4.34, for a total value of $17,603.04. Following the completion of the sale, the insider directly owned 60,822 shares in the company, valued at $263,967.48. This represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BlackBerry Price Performance

Shares of BB traded up $0.07 during trading hours on Thursday, reaching $4.30. The stock had a trading volume of 12,837,670 shares, compared to its average volume of 14,433,013. The company's 50-day moving average is $3.99 and its two-hundred day moving average is $4.09. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The stock has a market capitalization of $2.56 billion, a PE ratio of -71.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. The company had revenue of $121.26 million for the quarter, compared to analyst estimates of $112.18 million. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The company's quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. Research analysts expect that BlackBerry Limited will post -0.03 EPS for the current year.

Hedge Funds Weigh In On BlackBerry

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in shares of BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after buying an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 3,811 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of BlackBerry during the first quarter worth $37,000. Mindset Wealth Management LLC bought a new stake in shares of BlackBerry during the fourth quarter valued at about $38,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after buying an additional 5,008 shares in the last quarter. Institutional investors own 54.48% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BB. Royal Bank Of Canada increased their price objective on BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a report on Friday, June 20th. CIBC reissued an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Robert W. Baird increased their target price on shares of BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Canaccord Genuity Group upped their price objective on BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen downgraded BlackBerry from a "buy" rating to a "hold" rating in a research report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, BlackBerry has a consensus rating of "Hold" and an average price target of $4.60.

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.

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