BlackBerry (NYSE:BB) CFO Sells $70,566.76 in Stock

by · The Markets Daily

BlackBerry Limited (NYSE:BB – Get Free Report) CFO Tim Foote sold 8,441 shares of BlackBerry stock in a transaction on Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $70,566.76. Following the transaction, the chief financial officer owned 71,616 shares in the company, valued at approximately $598,709.76. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tim Foote also recently made the following trade(s):

  • On Friday, October 2nd, Tim Foote sold 3,269 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total transaction of $30,074.80.
  • On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The shares were sold at an average price of $9.14, for a total value of $152,382.08.

BlackBerry Stock Up 5.9%

Shares of NYSE:BB opened at $8.71 on Friday. The firm has a market cap of $5.12 billion, a P/E ratio of 48.41 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. BlackBerry Limited has a 12-month low of $3.12 and a 12-month high of $13.59. The business has a fifty day simple moving average of $8.36 and a 200 day simple moving average of $7.95.

BlackBerry (NYSE:BB – Get Free Report) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on BB shares. Raymond James Financial raised 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. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a research report on Monday, September 21st. Canaccord Genuity Group reduced their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th. Stifel Nicolaus started coverage on shares of BlackBerry in a research report on Wednesday, June 24th. They set a “buy” rating and a $12.00 price objective for the company. Finally, TD lifted their target price on shares of BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.86.

Get Our Latest Report on BlackBerry

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in shares of BlackBerry during the second quarter valued at about $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BlackBerry during the 2nd quarter worth about $69,786,000. Bank of America Corp DE bought a new position in shares of BlackBerry during the 2nd quarter worth about $64,718,000. Renaissance Technologies LLC boosted its position in shares of BlackBerry by 139.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock worth $11,488,000 after purchasing an additional 2,063,153 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of BlackBerry in the 2nd quarter valued at about $42,002,000. 54.48% of the stock is owned by institutional investors.

About BlackBerry

(Get Free Report)

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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