BlackBerry (NYSE:BB) Stock Price Down 3.2% - Time to Sell?

BlackBerry Limited (NYSE:BB - Get Free Report) traded down 3.2% during mid-day trading on Friday . The company traded as low as $4.07 and last traded at $4.08. 3,897,596 shares changed hands during trading, a decline of 78% from the average session volume of 18,118,139 shares. The stock had previously closed at $4.21.

Analyst Ratings Changes

BB has been the subject of several recent research reports. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Canaccord Genuity Group lifted their target price on shares of BlackBerry from $2.80 to $3.00 and gave the company a "hold" rating in a report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Monday, December 9th. Robert W. Baird lifted their price objective on BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Friday, December 20th. Finally, Royal Bank of Canada increased their target price on shares of BlackBerry from $3.25 to $4.00 and gave the company a "sector perform" rating in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, BlackBerry has an average rating of "Moderate Buy" and an average price target of $3.69.

BlackBerry Trading Down 5.3 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The business has a 50 day simple moving average of $3.17 and a two-hundred day simple moving average of $2.66. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. 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 return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $143.00 million for the quarter, compared to analysts' expectations of $144.84 million. During the same period last year, the business posted $0.01 earnings per share. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current year.

Insider Transactions at BlackBerry

In other news, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company's stock, valued at approximately $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now directly owns 385,552 shares of the company's stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,796 shares of company stock worth $823,314. Insiders own 0.34% of the company's stock.

Institutional Trading of BlackBerry

Hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its holdings in shares of BlackBerry by 5,408.9% during the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company's stock valued at $8,510,000 after acquiring an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company's stock valued at $31,238,000 after purchasing an additional 1,637,916 shares during the last quarter. Potrero Capital Research LLC purchased a new position in BlackBerry in the third quarter valued at about $2,359,000. Cubist Systematic Strategies LLC increased its position in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company's stock worth $1,361,000 after purchasing an additional 488,934 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of BlackBerry during the 3rd quarter worth about $1,285,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

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.