BlackBerry Limited (NYSE:BB) CAO Jay P. Chai Sells 24,425 Shares

BlackBerry Limited (NYSE:BB) CAO Jay P. Chai sold 24,425 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BlackBerry Stock Performance

Shares of NYSE:BB opened at $4.40 on Friday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -19.98 and a beta of 1.30. The company has a 50-day moving average price of $3.50 and a 200-day moving average price of $2.77. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.54.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Robert W. Baird raised their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Hedge Funds Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently modified their holdings of BB. Millennium Management LLC increased its position in shares of BlackBerry by 5,408.9% during the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after buying an additional 3,369,296 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after buying an additional 1,637,916 shares during the period. Potrero Capital Research LLC purchased a new position in shares of BlackBerry during the third quarter valued at about $2,359,000. Cubist Systematic Strategies LLC increased its position in shares of BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after buying an additional 488,934 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in BlackBerry in the third quarter worth about $1,285,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.