Insider Selling: BlackBerry (NYSE:BB) Insider Sells 3,474 Shares of Company Stock

Key Points

• BlackBerry insider John Christopher Wall sold 3,474 shares at an average price of $9.18, generating $31,891.32 and reducing his stake by 19.97% to 13,924 shares.
• BlackBerry shares fell 2.4% to $9.07, while the company reported quarterly EPS of $0.07 and revenue of $166.56 million, surpassing analyst estimates and marking 26% year-over-year revenue growth.
• Analysts maintain a consensus “Hold” rating with an average price target of $9.86; institutional investors and hedge funds own 54.48% of the company.

BlackBerry Limited (NYSE:BB - Get Free Report) insider John Christopher Wall sold 3,474 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $9.18, for a total transaction of $31,891.32. Following the transaction, the insider directly owned 13,924 shares in the company, valued at approximately $127,822.32. This represents a 19.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

BlackBerry Trading Down 2.4%

Shares of NYSE BB traded down $0.23 during trading on Monday, hitting $9.07. 15,143,937 shares of the company traded hands, compared to its average volume of 18,602,318. The firm has a market capitalization of $5.33 billion, a P/E ratio of 75.62 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. The company has a 50-day moving average price of $8.31 and a 200-day moving average price of $7.60. 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 issued its 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. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%.The business had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. During the same period last year, the company posted $0.04 EPS. The business's quarterly revenue 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 analysts predict that BlackBerry Limited will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, September 25th. Zacks Research lowered shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Canadian Imperial Bank of Commerce increased their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the stock an "outperformer" rating in a research report on Friday, June 26th. Finally, Raymond James Financial raised their target price on shares of BlackBerry from $4.75 to $9.50 and gave the company a "market perform" rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, BlackBerry has an average rating of "Hold" and a consensus target price of $9.86.

Institutional Investors Weigh In On BlackBerry

A number of large investors have recently modified their holdings of BB. Legal & General Group Plc purchased a new stake in shares of BlackBerry during the 2nd quarter valued at about $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BlackBerry in the second quarter valued at approximately $69,786,000. Bank of America Corp DE acquired a new stake in BlackBerry in the second quarter valued at approximately $64,718,000. Renaissance Technologies LLC raised its stake 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 valued at $11,488,000 after purchasing an additional 2,063,153 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of BlackBerry during the second quarter worth $42,002,000. Institutional investors and hedge funds own 54.48% of the company's stock.

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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