BlackBerry (NYSE:BB) Insider Philip Kurtz Sells 44,178 Shares

Key Points

• Philip Kurtz, an insider at BlackBerry, sold 44,178 shares at an average price of $4.95, marking a 31.64% decrease in his ownership stake.
• BlackBerry reported a quarterly revenue of $130.96 million, surpassing analyst estimates, despite a 10.6% decline year-over-year.
• Analysts have a consensus rating of "Moderate Buy" on BlackBerry, with an average price target of $4.77 following recent upgrades from several brokerages.

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip Kurtz sold 44,178 shares of the company's stock in a transaction on Sunday, September 28th. The stock was sold at an average price of $4.95, for a total transaction of $218,681.10. Following the completion of the transaction, the insider directly owned 95,468 shares of the company's stock, valued at approximately $472,566.60. The trade was a 31.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

BlackBerry Stock Up 0.7%

NYSE BB traded up $0.04 on Monday, reaching $5.00. The company had a trading volume of 20,550,388 shares, compared to its average volume of 16,459,152. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -499.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.20 and a current ratio of 2.20. BlackBerry Limited has a 1-year low of $2.24 and a 1-year high of $6.24. The company's fifty day moving average is $3.88 and its 200-day moving average is $3.88.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. The company had revenue of $130.96 million during the quarter, compared to the consensus estimate of $122.03 million. BlackBerry's quarterly revenue was down 10.6% on a year-over-year basis. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. On average, research analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BB. Voya Investment Management LLC bought a new position in BlackBerry in the 1st quarter valued at about $95,166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackBerry by 1,390.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company's stock worth $71,397,000 after purchasing an additional 14,544,005 shares during the period. Hood River Capital Management LLC bought a new position in shares of BlackBerry during the second quarter worth approximately $52,441,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BlackBerry by 69.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock worth $87,064,000 after purchasing an additional 9,442,676 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of BlackBerry by 21,832.6% during the second quarter. Marshall Wace LLP now owns 8,860,764 shares of the company's stock worth $40,582,000 after purchasing an additional 8,820,364 shares during the period. 54.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BB. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $4.60 target price on shares of BlackBerry in a report on Friday. Royal Bank Of Canada upped their target price on shares of BlackBerry from $4.00 to $4.50 and gave the company a "sector perform" rating in a report on Friday. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a report on Friday. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a report on Tuesday, June 24th. Finally, Robert W. Baird upped their target price on shares of BlackBerry from $5.00 to $5.50 and gave the company a "neutral" rating in a report on Friday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $4.77.

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.

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.