BlackBerry Limited (NYSE:BB) SVP Jennifer Armstrong-Owen Sells 29,940 Shares

BlackBerry Limited (NYSE:BB) SVP Jennifer Armstrong-Owen sold 29,940 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BlackBerry Price Performance

Shares of NYSE BB opened at $2.95 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -13.39 and a beta of 1.30. The firm’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $3.53. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $137.56 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect that BlackBerry Limited will post -0.03 EPS for the current year.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC purchased a new stake in shares of BlackBerry in the fourth quarter valued at approximately $53,267,000. Legal & General Group Plc grew its stake in BlackBerry by 19.9% in the 4th quarter. Legal & General Group Plc now owns 33,185,748 shares of the company’s stock valued at $125,987,000 after acquiring an additional 5,518,216 shares during the period. Renaissance Technologies LLC purchased a new stake in BlackBerry in the 4th quarter worth $19,485,000. Connor Clark & Lunn Investment Management Ltd. raised its position in BlackBerry by 41.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock worth $51,856,000 after acquiring an additional 4,039,483 shares during the period. Finally, NewGen Asset Management Ltd purchased a new position in BlackBerry during the fourth quarter valued at $14,282,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BB. CIBC cut their target price on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on BlackBerry in a report on Thursday. StockNews.com downgraded BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, April 2nd. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BlackBerry currently has an average rating of “Hold” and a consensus target price of $4.12.

BlackBerry Company Profile

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.