BlackBerry Limited (NYSE:BB) Insider Mattias Eriksson Sells 5,634 Shares

BlackBerry Limited (NYSE:BB - Get Free Report) insider Mattias Eriksson sold 5,634 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total transaction of $24,338.88. Following the completion of the sale, the insider owned 284,963 shares of the company's stock, valued at approximately $1,231,040.16. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BlackBerry Stock Performance

Shares of BB stock traded up $0.07 during mid-day trading on Friday, hitting $4.30. The stock had a trading volume of 12,837,670 shares, compared to its average volume of 14,477,569. The company's 50-day simple moving average is $4.03 and its 200-day simple moving average is $4.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $2.56 billion, a PE ratio of -71.67 and a beta of 1.47. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24.

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

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC purchased a new position in BlackBerry during the 1st quarter valued at about $95,166,000. Hood River Capital Management LLC purchased a new position in BlackBerry during the 4th quarter valued at about $53,267,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in BlackBerry by 69.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock valued at $87,064,000 after acquiring an additional 9,442,676 shares in the last quarter. Legal & General Group Plc increased its holdings in BlackBerry by 19.9% during the 4th quarter. Legal & General Group Plc now owns 33,185,748 shares of the company's stock valued at $125,987,000 after acquiring an additional 5,518,216 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in BlackBerry during the 4th quarter valued at about $19,485,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BB shares. Robert W. Baird upped their price target on shares of BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Royal Bank Of Canada raised their target price on shares of BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a research note on Friday, June 20th. CIBC restated an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Canaccord Genuity Group raised their target price on shares of 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 cut shares of BlackBerry from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $4.60.

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.