BlackBerry (NYSE:BB) CFO Tim Foote Sells 8,441 Shares of Stock

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 8,441 shares of BlackBerry stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.36, for a total value of $70,566.76. Following the completion of the sale, the chief financial officer directly owned 71,616 shares of the company’s stock, valued at $598,709.76. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tim Foote also recently made the following trade(s):

• On Friday, October 2nd, Tim Foote sold 3,269 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total value of $30,074.80.
• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The shares were sold at an average price of $9.14, for a total value of $152,382.08.

BlackBerry Trading Up 0.3%

Shares of BB opened at $8.48 on Wednesday. The stock’s fifty day simple moving average is $8.38 and its 200-day simple moving average is $7.87. The firm has a market capitalization of $4.98 billion, a PE ratio of 49.71 and a beta of 2.20. BlackBerry Limited has a 12-month low of $3.12 and a 12-month high of $13.59. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on BB shares. Weiss Ratings raised shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Canadian Imperial Bank of Commerce boosted their price target on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research note on Friday, June 26th. Zacks Research lowered shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 price objective on shares of BlackBerry in a report on Monday, September 21st. Finally, Canaccord Genuity Group reduced their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.86.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors have recently made changes to their positions in BB. The Manufacturers Life Insurance Company increased its holdings in BlackBerry by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock valued at $6,673,000 after purchasing an additional 40,350 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in BlackBerry during the second quarter worth about $31,000. Nykredit A S bought a new position in BlackBerry during the second quarter worth about $111,000. Amundi bought a new position in BlackBerry during the second quarter worth about $1,086,000. Finally, TD Waterhouse Canada Inc. grew its position 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 worth $1,348,000 after buying an additional 58,818 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

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.