Insider Selling: BlackBerry (NYSE:BB) SVP Sells $23,828.00 in Stock

BlackBerry Limited (NYSE:BB) SVP Jennifer Armstrong-Owen sold 2,590 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $23,828.00. Following the completion of the transaction, the senior vice president owned 109,647 shares in the company, valued at $1,008,752.40. This trade represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jennifer Armstrong-Owen also recently made the following trade(s):

• On Thursday, July 9th, Jennifer Armstrong-Owen sold 3,296 shares of BlackBerry stock. The stock was sold at an average price of $10.92, for a total value of $35,992.32.

BlackBerry Trading Down 8.4%

Shares of BB stock opened at $8.78 on Thursday. The business’s 50 day moving average is $8.37 and its two-hundred day moving average is $7.72. 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 $5.15 billion, a P/E ratio of 73.12 and a beta of 2.20. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $144.22 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Equities analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in BlackBerry in the second quarter valued at about $31,000. CoreCap Advisors LLC purchased a new stake in shares of BlackBerry during the 2nd quarter worth approximately $31,000. Elevation Wealth Partners LLC acquired a new stake in shares of BlackBerry in the 2nd quarter worth approximately $32,000. Global Retirement Partners LLC acquired a new stake in shares of BlackBerry in the 2nd quarter worth approximately $50,000. Finally, Nykredit A S purchased a new position in BlackBerry in the 2nd quarter valued at approximately $111,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BB shares. TD Securities restated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a research report on Friday, June 26th. Raymond James Financial lifted their target price on shares of BlackBerry from $4.75 to $9.50 and gave the company a “market perform” rating in a report on Friday, June 26th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 price target on shares of BlackBerry in a research note on Monday, September 21st. Canadian Imperial Bank of Commerce raised their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a research report on Friday, June 26th. Finally, Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, BlackBerry currently has an average rating of “Hold” and a consensus price target of $9.86.

About BlackBerry

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.