BlackBerry (NYSE:BB) Director David Chaikof Acquires 5,000 Shares of Company Stock

Key Points

• Director David Chaikof bought 5,000 BlackBerry shares at an average price of $8.18, a $40,900 purchase; he owned 5,000 shares after the transaction.
• BlackBerry shares fell 4.3% in Thursday trading, closing at $8.38.
• For its latest quarter, BlackBerry reported EPS of $0.07 and revenue of $166.56 million, beating estimates; revenue rose 26% year over year. Analysts’ consensus rating is Hold, with a $9.86 average price target.

BlackBerry Limited (NYSE:BB - Get Free Report) Director David Chaikof bought 5,000 shares of the business's stock in a transaction on Tuesday, November 3rd. The stock was bought at an average price of $8.18 per share, for a total transaction of $40,900.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at $40,900. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BlackBerry Stock Down 4.3%

NYSE:BB traded down $0.38 during mid-day trading on Thursday, hitting $8.38. 26,569,885 shares of the company's stock traded hands, compared to its average volume of 18,070,127. The company has a fifty day moving average of $8.45 and a 200 day moving average of $6.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a market capitalization of $4.91 billion, a P/E ratio of 69.83 and a beta of 2.23.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. On average, analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BB shares. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Zacks Research downgraded BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $9.00 target price on shares of BlackBerry in a research report on Monday, September 21st. Canaccord Genuity Group dropped their price target on BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a research report on Friday, September 25th. Finally, Weiss Ratings raised BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $9.86.

Institutional Trading of BlackBerry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in BlackBerry by 139.2% during the first quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock worth $11,488,000 after acquiring an additional 2,063,153 shares during the last quarter. Nwam LLC purchased a new position in shares of BlackBerry in the second quarter valued at $7,070,000. Canada Pension Plan Investment Board purchased a new position in BlackBerry in the 2nd quarter valued at about $20,798,000. Louisbourg Investments Inc. acquired a new stake in BlackBerry during the 3rd quarter valued at approximately $6,897,000. Finally, Loftus Peak Pty Ltd acquired a new stake in shares of BlackBerry during the third quarter worth approximately $16,158,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

BlackBerry Company Profile

BlackBerry Limited NYSE: BB is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry's cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.

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