BlackBerry (TSE:BB) Trading Down 14.2% on Insider Selling

Key Points

• BlackBerry shares fell 14.2% in mid-day trading after insider Philip Simon Kurtz sold 30,000 shares on July 14, a transaction worth C$477,600.
• The stock traded at C$12.84 after hitting a low of C$12.80, with volume rising to 6.1 million shares, well above its average daily volume.
• Despite the selloff, analysts still have a Moderate Buy consensus on BlackBerry, with Stifel Nicolaus maintaining a C$12.00 price target and a Buy rating.

BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY shares were down 14.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as C$12.80 and last traded at C$12.84. 6,118,081 shares traded hands during trading, an increase of 55% from the average daily volume of 3,937,589 shares. The stock had previously closed at C$14.97.

Specifically, insider Philip Simon Kurtz sold 30,000 shares of BlackBerry stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$15.92, for a total transaction of C$477,600.00. Following the sale, the insider owned 95,158 shares in the company, valued at C$1,514,915.36. The trade was a 23.97% decrease in their ownership of the stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus set a C$12.00 price objective on shares of BlackBerry and gave the company a "buy" rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$12.00.

BlackBerry Trading Down 14.4%

The company has a 50 day moving average of C$12.76 and a 200 day moving average of C$7.89. The firm has a market cap of C$7.51 billion, a price-to-earnings ratio of 128.20, a price-to-earnings-growth ratio of 0.06 and a beta of 1.16. The company has a current ratio of 2.20, a quick ratio of 1.49 and a debt-to-equity ratio of 29.45.

BlackBerry (TSE:BB - Get Free Report) NASDAQ: BBRY last released its quarterly earnings data on Thursday, June 25th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$210.94 million during the quarter. BlackBerry had a return on equity of 8.10% and a net margin of 10.32%. As a group, research analysts anticipate that BlackBerry Limited will post 0.0551903 EPS for the current year.

About BlackBerry

BlackBerry NYSE: BBTSX: BB provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company's high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.

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