BlackBerry (NYSE:BB) CFO Sells $70,566.76 in Stock

Key Points

• BlackBerry CFO Tim Foote sold 8,441 shares at an average price of $8.36, worth $70,566.76, reducing his direct holdings by 10.54% to 71,616 shares. He had also sold shares earlier in October.
• BlackBerry shares rose 0.3% to $8.48 during Tuesday trading. The stock has a market capitalization of approximately $4.98 billion and trades within a 52-week range of $3.12 to $13.59.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.07 EPS and $166.56 million in revenue, while analysts maintain a consensus “Hold” rating with a $9.86 price target.

BlackBerry Limited (NYSE:BB - Get Free Report) CFO Tim Foote sold 8,441 shares of the firm's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $70,566.76. Following the completion of the transaction, the chief financial officer directly owned 71,616 shares of the company's stock, valued at approximately $598,709.76. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tim Foote also recently made the following trade(s):

• On Friday, October 2nd, Tim Foote sold 3,269 shares of BlackBerry stock. The shares were sold at an average price of $9.20, for a total transaction of $30,074.80.
• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The stock was sold at an average price of $9.14, for a total transaction of $152,382.08.

BlackBerry Stock Up 0.3%

BB stock traded up $0.03 during midday trading on Tuesday, hitting $8.48. The company's stock had a trading volume of 9,432,002 shares, compared to its average volume of 18,444,422. The firm has a 50-day simple moving average of $8.38 and a 200-day simple moving average of $7.84. The firm has a market capitalization of $4.98 billion, a P/E ratio of 70.63 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The company's revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, equities analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $9.00 price target on shares of BlackBerry in a research report on Monday, September 21st. Raymond James Financial boosted their price objective on BlackBerry from $4.75 to $9.50 and gave the stock a "market perform" rating in a research report on Friday, June 26th. TD upped their target price on shares of BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. Zacks Research cut shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Canaccord Genuity Group decreased their price target on shares of BlackBerry from $10.30 to $9.50 and set a "hold" rating for the company in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.86.

Institutional Trading of BlackBerry

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new stake in shares of BlackBerry during the 2nd quarter worth about $480,710,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in BlackBerry in the second quarter valued at approximately $69,786,000. Bank of America Corp DE purchased a new position in BlackBerry in the second quarter valued at approximately $64,718,000. BlackRock Inc. acquired a new stake in BlackBerry during the second quarter worth approximately $42,002,000. Finally, Primecap Management Co. CA acquired a new position in shares of BlackBerry in the 2nd quarter valued at $36,362,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Company Profile

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.

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