BlackBerry Ltd (NYSE:BB) CFO Sells $11,604.95 in Stock

BlackBerry Ltd (NYSE:BB) CFO Steve Rai sold 2,485 shares of BlackBerry stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $4.67, for a total transaction of $11,604.95. Following the sale, the chief financial officer now owns 30,609 shares in the company, valued at approximately $142,944.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Steve Rai also recently made the following trade(s):

  • On Friday, September 25th, Steve Rai sold 15,255 shares of BlackBerry stock. The shares were sold at an average price of $4.66, for a total transaction of $71,088.30.

NYSE BB traded down $0.01 on Thursday, hitting $4.58. 4,967,145 shares of the stock were exchanged, compared to its average volume of 5,264,167. The firm has a market capitalization of $2.55 billion, a P/E ratio of -3.47 and a beta of 1.53. BlackBerry Ltd has a 52-week low of $2.70 and a 52-week high of $6.89. The stock has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $4.58.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.09. The firm had revenue of $259.00 million during the quarter, compared to analyst estimates of $239.74 million. BlackBerry had a negative net margin of 72.19% and a positive return on equity of 3.91%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts forecast that BlackBerry Ltd will post -0.05 earnings per share for the current year.

A number of research firms recently weighed in on BB. Raymond James set a $7.50 target price on shares of BlackBerry and gave the company a “market perform” rating in a report on Thursday, June 25th. Scotiabank raised their target price on shares of BlackBerry from $4.50 to $5.00 and gave the company a “sector perform” rating in a report on Thursday, June 25th. TD Securities raised their target price on shares of BlackBerry from $5.00 to $5.50 and gave the company a “hold” rating in a report on Friday, September 25th. Bank of America raised their target price on shares of BlackBerry from $5.00 to $5.50 and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Pi Financial reissued a “neutral” rating on shares of BlackBerry in a report on Monday, June 22nd. Twelve research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $5.80.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ontario Teachers Pension Plan Board raised its holdings in shares of BlackBerry by 2.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 19,820,213 shares of the company’s stock valued at $97,091,000 after acquiring an additional 427,767 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of BlackBerry by 92.5% in the first quarter. Wells Fargo & Company MN now owns 3,980,551 shares of the company’s stock valued at $16,438,000 after acquiring an additional 1,912,757 shares in the last quarter. CIBC World Markets Inc. raised its holdings in shares of BlackBerry by 0.8% in the first quarter. CIBC World Markets Inc. now owns 2,969,648 shares of the company’s stock valued at $12,265,000 after acquiring an additional 23,689 shares in the last quarter. Swiss National Bank raised its holdings in shares of BlackBerry by 9.7% in the second quarter. Swiss National Bank now owns 2,241,450 shares of the company’s stock valued at $10,856,000 after acquiring an additional 198,700 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of BlackBerry by 3.6% in the second quarter. TD Asset Management Inc. now owns 1,981,499 shares of the company’s stock valued at $9,631,000 after acquiring an additional 68,380 shares in the last quarter. 46.69% of the stock is owned by hedge funds and other institutional investors.

About BlackBerry

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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