BlackBerry Limited (NYSE:BB) Insider Mattias Eriksson Sells 52,549 Shares

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $2.45, for a total transaction of $128,745.05. Following the completion of the sale, the insider now owns 214,440 shares in the company, valued at $525,378. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

BlackBerry Price Performance

Shares of NYSE:BB opened at $2.47 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $2.92. BlackBerry Limited has a fifty-two week low of $2.20 and a fifty-two week high of $5.75.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The firm’s revenue for the quarter was down 61.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. Sell-side analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current year.

Institutional Trading of BlackBerry

Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of BlackBerry by 70.1% in the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock valued at $119,657,000 after buying an additional 13,925,510 shares during the last quarter. FIFTHDELTA Ltd increased its position in BlackBerry by 2.3% in the 1st quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock valued at $86,940,000 after acquiring an additional 710,015 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BlackBerry by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock worth $53,835,000 after acquiring an additional 149,444 shares during the last quarter. Norges Bank acquired a new position in shares of BlackBerry during the fourth quarter worth approximately $48,775,000. Finally, EdgePoint Investment Group Inc. grew its stake in shares of BlackBerry by 25.6% during the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock valued at $34,343,000 after purchasing an additional 2,536,966 shares during the last quarter. 54.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BB. Robert W. Baird decreased their target price on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Cibc World Mkts raised BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Canaccord Genuity Group cut their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. TD Securities decreased their price target on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, Raymond James dropped their price objective on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.20.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.