Philip S. Kurtz Sells 15,005 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

BlackBerry Stock Performance

Shares of BB stock traded up $0.11 during mid-day trading on Monday, reaching $2.63. The stock had a trading volume of 15,861,450 shares, compared to its average volume of 9,086,446. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.70. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -9.03 and a beta of 1.39. The business’s fifty day moving average is $2.35 and its 200-day moving average is $2.59. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. On average, research analysts forecast that BlackBerry Limited will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

BB has been the subject of several research reports. Raymond James decreased their target price on BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research note on Friday, June 28th. CIBC raised shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price on the stock in a research note on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research report on Friday. Finally, Canaccord Genuity Group cut their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry presently has a consensus rating of “Hold” and an average target price of $3.20.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. boosted its position in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of BlackBerry by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 441,235 shares of the company’s stock worth $1,101,000 after buying an additional 11,370 shares during the last quarter. Millennium Management LLC lifted its position in shares of BlackBerry by 5,408.9% in the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock worth $8,510,000 after acquiring an additional 3,369,296 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $645,000. 54.48% of the stock is owned by institutional investors and hedge funds.

About BlackBerry

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.