Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells 10,000 Shares of Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 10,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $13.82, for a total transaction of $138,200.00. Following the completion of the sale, the director directly owned 680,459 shares in the company, valued at approximately $9,403,943.38. The trade was a 1.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackRock Short-Term California Muni Bond ETF Trading Up 0.6%

NASDAQ:CALY traded up $0.08 during mid-day trading on Wednesday, hitting $13.79. The company’s stock had a trading volume of 1,986,528 shares, compared to its average volume of 3,440,716. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -43.09 and a beta of 0.96. BlackRock Short-Term California Muni Bond ETF has a fifty-two week low of $5.42 and a fifty-two week high of $16.65. The stock has a fifty day moving average of $30.35 and a 200-day moving average of $43.45.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20. The company had revenue of $367.50 million for the quarter, compared to analyst estimates of $785.31 million. During the same period in the previous year, the firm posted ($0.33) earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CALY shares. KeyCorp upgraded BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Friday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. B. Riley Financial raised shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $19.00 in a report on Thursday, January 22nd. Finally, Truist Financial boosted their target price on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th.

About BlackRock Short-Term California Muni Bond ETF

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.