BlackBerry (NYSE:BB) Stock: Insider Philip Kurtz Sells 30,000 Shares

Key Points

• BlackBerry insider Philip Kurtz sold 30,000 shares at an average price of $9.14, generating $274,200. Following the transaction, he owned 65,158 shares, a 31.53% reduction in his holdings.
• BlackBerry shares traded up 1.1% to $9.29, while the company reported quarterly EPS of $0.07 and revenue of $166.56 million, beating analyst estimates and marking 26% year-over-year revenue growth.
• Institutional ownership stands at 54.48%, with several investors adding positions; however, analysts maintain a consensus “Hold” rating and an average price target of $9.25.

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip Kurtz sold 30,000 shares of the business's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $9.14, for a total transaction of $274,200.00. Following the sale, the insider directly owned 65,158 shares of the company's stock, valued at $595,544.12. This represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackBerry Trading Up 1.1%

BB stock traded up $0.10 during trading on Friday, hitting $9.29. The company had a trading volume of 16,921,099 shares, compared to its average volume of 18,619,277. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59. The company has a 50 day simple moving average of $8.30 and a 200-day simple moving average of $7.56. The firm has a market capitalization of $5.45 billion, a P/E ratio of 77.38 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 (NYSE:BB - Get Free Report) last issued its earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The business had revenue of $166.56 million for the quarter, compared to the consensus estimate of $144.22 million. During the same period in the prior year, the firm earned $0.04 EPS. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. 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, research analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BB. General American Investors Co. Inc. bought a new position in BlackBerry in the fourth quarter worth about $3,892,000. Renaissance Technologies LLC grew its position in shares of BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock worth $11,488,000 after buying an additional 2,063,153 shares during the last quarter. Nwam LLC purchased a new position in shares of BlackBerry in the 2nd quarter worth approximately $7,070,000. Canada Pension Plan Investment Board bought a new position in shares of BlackBerry during the 2nd quarter worth approximately $20,798,000. Finally, Havemeyer Place LP bought a new position in shares of BlackBerry during the 4th quarter worth approximately $1,349,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research lowered BlackBerry from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Raymond James Financial raised their price target on BlackBerry from $4.75 to $9.50 and gave the company a "market perform" rating in a research note on Friday, June 26th. Weiss Ratings raised shares of BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Canaccord Genuity Group dropped their target price on shares of BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a report on Friday, September 25th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of BlackBerry from $10.00 to $13.00 and gave the company an "outperformer" rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, BlackBerry has an average rating of "Hold" and a consensus price target of $9.25.

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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