BlackBerry (NYSE:BB) Insider Philip Kurtz Sells 30,000 Shares of Stock

by · The Markets Daily

BlackBerry Limited (NYSE:BB – Get Free Report) insider Philip Kurtz sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $9.14, for a total value of $274,200.00. Following the completion of the sale, the insider directly owned 65,158 shares of the company’s stock, valued at $595,544.12. The trade was a 31.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BlackBerry Stock Up 1.1%

NYSE:BB traded up $0.10 during mid-day trading on Friday, hitting $9.29. 16,921,099 shares of the company’s stock traded hands, compared to its average volume of 18,619,277. The company has a fifty day moving average of $8.30 and a 200 day moving average of $7.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a market capitalization of $5.45 billion, a P/E ratio of 77.38 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 for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%.The business had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same quarter last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. 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, analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of 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. TD Securities restated a “hold” rating and issued a $8.00 target price on shares of BlackBerry in a research note on Friday, June 26th. Canaccord Genuity Group lowered their price target on BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research report on Friday, September 25th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, Zacks Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.25.

Read Our Latest Analysis on BB

Institutional Trading of BlackBerry

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in shares of BlackBerry by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock worth $6,673,000 after purchasing an additional 40,350 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in BlackBerry in the second quarter valued at $31,000. Nykredit A S acquired a new stake in BlackBerry during the 2nd quarter worth about $111,000. Amundi acquired a new stake in BlackBerry during the 2nd quarter worth about $1,086,000. Finally, TD Waterhouse Canada Inc. raised its stake in shares of BlackBerry by 127.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock valued at $1,348,000 after buying an additional 58,818 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

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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