BlackBerry (NYSE:BB) Stock: Insider Philip Kurtz Sells 4,168 Shares

Key Points

• BlackBerry insider Philip Kurtz sold 4,168 shares at an average price of $9.18, generating $38,262.24 and reducing his direct stake by 5.75% to 68,365 shares.
• BlackBerry shares recently traded at $9.07, while the company reported quarterly EPS of $0.07 and revenue of $166.56 million, exceeding analyst estimates and marking 26% year-over-year revenue growth.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from nine analysts and an average price target of $9.86; institutional investors own 54.48% of the stock.

BlackBerry Limited (NYSE:BB - Get Free Report) insider Philip Kurtz sold 4,168 shares of the company's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $9.18, for a total transaction of $38,262.24. Following the completion of the sale, the insider directly owned 68,365 shares of the company's stock, valued at $627,590.70. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BlackBerry Price Performance

BlackBerry stock traded down $0.23 during trading hours on Monday, hitting $9.07. 15,143,937 shares of the company traded hands, compared to its average volume of 18,602,318. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59. The firm has a market cap of $5.33 billion, a P/E ratio of 75.62 and a beta of 2.20. The firm's 50-day simple moving average is $8.31 and its two-hundred day simple moving average is $7.60. 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 quarterly earnings results 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 company had revenue of $166.56 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.04 EPS. 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, analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Weiss Ratings upgraded shares of BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, September 25th. TD upped their price target on BlackBerry from $5.00 to $8.00 and gave the company a "hold" rating in a report on Friday, June 26th. TD Securities reiterated a "hold" rating and set a $8.00 price objective on shares of BlackBerry in a research report on Friday, June 26th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.86.

Institutional Trading of BlackBerry

Large investors have recently added to or reduced their stakes in the company. V2 Financial group LLC raised its position in BlackBerry by 6.8% during the first quarter. V2 Financial group LLC now owns 32,100 shares of the company's stock valued at $104,000 after buying an additional 2,050 shares during the period. Integrated Wealth Concepts LLC purchased a new position in BlackBerry during the 2nd quarter valued at about $31,000. CoreCap Advisors LLC acquired a new position in shares of BlackBerry in the 2nd quarter valued at about $31,000. Elevation Wealth Partners LLC purchased a new stake in shares of BlackBerry in the second quarter worth approximately $32,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of BlackBerry in the second quarter worth approximately $50,000. 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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