BlackBerry (NYSE:BB) Insider Sells 6,164 Shares of Stock

Key Points

• BlackBerry insider Philip Kurtz sold 6,164 shares at an average price of $8.45, generating $52,085.80 and reducing his ownership by 7.78% to 73,109 shares.
• BlackBerry shares traded near $8.48, with the stock posting a 1-year range of $3.12 to $13.59 and a market capitalization of approximately $4.98 billion.
• The company exceeded quarterly expectations, reporting $0.07 EPS and $166.56 million in revenue, while analysts maintained an overall “Hold” rating with an average price target of $9.86.

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip Kurtz sold 6,164 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.45, for a total transaction of $52,085.80. Following the completion of the transaction, the insider directly owned 73,109 shares in the company, valued at $617,771.05. This trade represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BlackBerry Stock Performance

NYSE:BB traded up $0.03 during trading hours on Tuesday, reaching $8.48. 9,433,055 shares of the company's stock were exchanged, compared to its average volume of 18,444,422. 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 1-year low of $3.12 and a 1-year high of $13.59. The company has a 50-day moving average of $8.38 and a 200 day moving average of $7.84. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 70.63 and a beta of 2.20.

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

Analyst Upgrades and Downgrades

BB has been the topic of a number of analyst reports. Stifel Nicolaus assumed coverage on BlackBerry in a report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 price objective on the stock. TD upped their price objective on BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Zacks Research cut BlackBerry from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of BlackBerry from $10.00 to $13.00 and gave the stock an "outperformer" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.86.

Hedge Funds Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently bought and sold shares of BB. Integrated Wealth Concepts LLC purchased a new stake in BlackBerry during the second quarter worth $31,000. CoreCap Advisors LLC purchased a new position in shares of BlackBerry in the second quarter valued at $31,000. Elevation Wealth Partners LLC purchased a new position in shares of BlackBerry in the second quarter valued at $32,000. Global Retirement Partners LLC purchased a new position in shares of BlackBerry in the second quarter valued at $50,000. Finally, Nykredit A S acquired a new position in shares of BlackBerry during the 2nd quarter worth $111,000. 54.48% of the stock is owned by institutional investors and hedge funds.

About BlackBerry

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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