Insider Selling: JetBlue Airways (NASDAQ:JBLU) CFO Sells $444,977.28 in Stock

JetBlue Airways Corporation (NASDAQ:JBLU) CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

JetBlue Airways Stock Down 0.8%

Shares of JBLU stock opened at $6.36 on Thursday. JetBlue Airways Corporation has a 12 month low of $3.87 and a 12 month high of $6.62. The stock has a market cap of $2.40 billion, a P/E ratio of -2.66 and a beta of 1.74. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The company has a 50 day simple moving average of $5.52 and a two-hundred day simple moving average of $5.22.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. On average, research analysts expect that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JBLU. Citigroup boosted their price target on JetBlue Airways from $4.40 to $6.60 and gave the company a “neutral” rating in a report on Friday, June 26th. Bank of America lifted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. UBS Group boosted their price objective on JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Thursday, April 16th. Finally, BMO Capital Markets raised their target price on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and an average target price of $5.54.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its stake in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of JetBlue Airways during the fourth quarter valued at about $30,000. Leonteq Securities AG bought a new stake in shares of JetBlue Airways in the fourth quarter worth about $32,000. Finally, Essential Partners LLC increased its holdings in shares of JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.