BlackBerry (NYSE:BB) SVP Sells 2,590 Shares of Company Stock

BlackBerry Limited (NYSE:BB) SVP Jennifer Armstrong-Owen sold 2,590 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $23,828.00. Following the completion of the transaction, the senior vice president owned 109,647 shares of the company’s stock, valued at $1,008,752.40. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, July 9th, Jennifer Armstrong-Owen sold 3,296 shares of BlackBerry stock. The stock was sold at an average price of $10.92, for a total transaction of $35,992.32.

BlackBerry Stock Down 2.4%

BB stock traded down $0.23 during mid-day trading on Monday, hitting $9.07. 15,143,937 shares of the company were exchanged, compared to its average volume of 18,602,318. 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. The firm’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $7.60. The firm has a market cap of $5.33 billion, a P/E ratio of 75.62 and a beta of 2.20.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. 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, sell-side analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

BB has been the topic of several recent research reports. Stifel Nicolaus assumed coverage on BlackBerry in a research note on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price target on the stock. TD Securities reiterated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a report on Friday, June 26th. Canaccord Genuity Group dropped their target price on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research report on Friday, September 25th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of BlackBerry from $10.00 to $13.00 and gave the stock 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.86.

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently modified their holdings of BB. The Manufacturers Life Insurance Company grew its holdings in shares of BlackBerry by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock valued at $6,673,000 after acquiring an additional 40,350 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in BlackBerry during the second quarter worth about $31,000. Nykredit A S bought a new stake in BlackBerry during the second quarter worth about $111,000. Amundi acquired a new position in BlackBerry during the second quarter valued at approximately $1,086,000. Finally, TD Waterhouse Canada Inc. grew its stake in BlackBerry by 127.3% in the second quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock valued at $1,348,000 after purchasing an additional 58,818 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.