BlackBerry (NYSE:BB) SVP Sells $28,248.44 in Stock

Key Points

• BlackBerry SVP Jennifer Armstrong-Owen sold 3,379 shares at an average price of $8.36, generating $28,248.44. She retained 113,904 shares after the transaction, reducing her ownership by 2.88%.
• BlackBerry shares recently traded at $8.48, with a market capitalization of approximately $4.98 billion. The stock has ranged from $3.12 to $13.59 over the past year.
• The company exceeded quarterly expectations, reporting $0.07 in earnings per share and $166.56 million in revenue, up 26% year over year. Analysts maintain an overall “Hold” rating, with an average price target of $9.86.

BlackBerry Limited (NYSE:BB - Get Free Report) SVP Jennifer Armstrong-Owen sold 3,379 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $28,248.44. Following the transaction, the senior vice president directly owned 113,904 shares in the company, valued at approximately $952,237.44. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jennifer Armstrong-Owen also recently made the following trade(s):

• On Friday, October 2nd, Jennifer Armstrong-Owen sold 2,590 shares of BlackBerry stock. The shares were sold at an average price of $9.20, for a total transaction of $23,828.00.

BlackBerry Price Performance

Shares of BB stock traded up $0.03 on Tuesday, reaching $8.48. 9,439,050 shares of the company were exchanged, compared to its average volume of 18,444,422. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 70.63 and a beta of 2.20. The business has a 50-day moving average price of $8.38 and a 200 day moving average price of $7.84. 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 1 year low of $3.12 and a 1 year high of $13.59.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm 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 company's revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. Equities research analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of BlackBerry

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings raised BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, September 25th. TD lifted their price target on BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. TD Securities reiterated a "hold" rating and set a $8.00 price target on shares of BlackBerry in a research report on Friday, June 26th. Canadian Imperial Bank of Commerce increased their price objective on BlackBerry from $10.00 to $13.00 and gave the company an "outperformer" rating in a research note on Friday, June 26th. Finally, Stifel Nicolaus started coverage on BlackBerry in a research note on Wednesday, June 24th. They issued a "buy" rating and a $12.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, BlackBerry presently has an average rating of "Hold" and an average price target of $9.86.

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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