Key Points
- BlackBerry CFO Tim Foote sold 3,269 shares at an average price of $9.20, generating $30,074.80 and reducing his direct stake by 5.09% to 60,969 shares. He also sold 16,672 shares the previous day.
- BlackBerry reported stronger-than-expected quarterly results, with EPS of $0.07 versus a $0.04 estimate and revenue of $166.56 million, up 26% year over year.
- The stock was trading near $9.07, while analysts maintained a consensus “Hold” rating with an average price target of $9.86; institutional investors own 54.48% of the shares.
BlackBerry Limited (NYSE:BB - Get Free Report) SVP Jennifer Armstrong-Owen sold 2,590 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $9.20, for a total transaction of $23,828.00. Following the transaction, the senior vice president owned 109,647 shares in the company, valued at approximately $1,008,752.40. The trade was a 2.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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%
NYSE BB opened at $9.07 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59. The company has a 50 day moving average of $8.33 and a 200-day moving average of $7.64. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 75.62 and a beta of 2.20.
BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million for the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%.The firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. 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, equities research analysts expect that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in shares of BlackBerry during the 2nd quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BlackBerry in the second quarter valued at approximately $69,786,000. Bank of America Corp DE bought a new stake in shares of BlackBerry during the second quarter worth $64,718,000. Renaissance Technologies LLC increased its holdings in shares of BlackBerry by 139.2% during the first quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock worth $11,488,000 after buying an additional 2,063,153 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of BlackBerry in the 2nd quarter valued at $42,002,000. Institutional investors own 54.48% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Zacks Research lowered BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Canadian Imperial Bank of Commerce raised their target price on shares of BlackBerry from $10.00 to $13.00 and gave the company an "outperformer" rating in a report on Friday, June 26th. Stifel Nicolaus initiated coverage on shares of BlackBerry in a research report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 target price for the company. Finally, Raymond James Financial upped their price target on shares of BlackBerry from $4.75 to $9.50 and gave the stock a "market perform" rating in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.86.
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About BlackBerry
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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.
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