Insider Selling: BlackBerry (NYSE:BB) CFO Sells 3,269 Shares of Company Stock

Key Points

• BlackBerry CFO Tim Foote sold 3,269 shares at an average price of $9.20, reducing his ownership by 5.09% to 60,969 shares. He also sold 16,672 shares the previous day and 8,235 shares in July.
• BlackBerry recently exceeded quarterly expectations, reporting $0.07 EPS versus the $0.04 consensus and revenue of $166.56 million, up 26% year over year.
• Shares traded near $9.07, while analysts maintained an overall “Hold” consensus with an average price target of $9.86; institutional investors own 54.48% of the stock.

BlackBerry Limited (NYSE:BB - Get Free Report) CFO Tim Foote sold 3,269 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $30,074.80. Following the completion of the sale, the chief financial officer owned 60,969 shares in the company, valued at $560,914.80. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tim Foote also recently made the following trade(s):

• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The shares were sold at an average price of $9.14, for a total value of $152,382.08.
• On Thursday, July 9th, Tim Foote sold 8,235 shares of BlackBerry stock. The shares were sold at an average price of $10.92, for a total transaction of $89,926.20.

BlackBerry Price Performance

Shares of NYSE:BB traded down $0.23 on Monday, hitting $9.07. The stock had a trading volume of 15,143,937 shares, compared to its average volume of 18,602,318. The firm's 50 day moving average price is $8.31 and its 200-day moving average price is $7.60. 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 $5.33 billion, a price-to-earnings ratio of 75.62 and a beta of 2.20.

BlackBerry (NYSE:BB - Get Free Report) last announced its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (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 during the quarter, compared to analysts' expectations of $144.22 million. During the same quarter last year, the company 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. On average, equities research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 price target on shares of BlackBerry in a research report on Monday, September 21st. Canaccord Genuity Group cut their price objective on BlackBerry from $10.30 to $9.50 and set a "hold" rating for the company in a research report on Friday, September 25th. TD Securities reissued a "hold" rating and issued a $8.00 price objective on shares of BlackBerry in a research note on Friday, June 26th. Stifel Nicolaus initiated coverage on BlackBerry in a report on Wednesday, June 24th. They set a "buy" rating and a $12.00 target price on the stock. Finally, Canadian Imperial Bank of Commerce raised their target price on BlackBerry from $10.00 to $13.00 and gave the company an "outperformer" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, BlackBerry presently has an average rating of "Hold" and a consensus price target of $9.86.

Institutional Trading of BlackBerry

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in BlackBerry in the 2nd quarter valued at $69,786,000. Bank of America Corp DE acquired a new stake in shares of BlackBerry in the 2nd quarter valued at $64,718,000. Renaissance Technologies LLC raised its position in shares of 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. Finally, BlackRock Inc. acquired a new position in shares of BlackBerry during the second quarter valued at $42,002,000. 54.48% of the stock is owned by institutional investors.

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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