BlackBerry Limited Insider Mattias Eriksson Sells 12,680 Shares

On January 6th, Mattias Eriksson, an insider at BlackBerry Limited (NYSE:BB), sold 12,680 shares of company stock. The shares were sold for an average price of $4.00, totaling $50,720. This transaction marks a 4.36% decrease in Eriksson's ownership. After the sale, he retains a total of 278,306 shares, which are valued at approximately $1,113,224. Details of the transaction were made available in a filing with the Securities and Exchange Commission.

In addition to the recent sale, Eriksson had previously sold 14,475 shares on January 2nd at an average price of $3.68, amounting to $53,268.

Current Stock Performance

The share price of BlackBerry increased slightly during mid-day trading on Wednesday, reaching $4.07, an increase of $0.01. The stock traded with a volume of 22,024,251 shares, which is above its average volume of 21,382,383. BlackBerry has a market capitalization of $2.41 billion, a P/E ratio of -16.28, and a beta value of 1.30. The stock has experienced a 52-week low of $2.01 and a high of $4.35, with a debt-to-equity ratio of 0.27 and both a quick ratio and a current ratio of 1.44.

Recent Earnings Report

BlackBerry recently released its quarterly earnings results on December 19th. The company reported earnings per share of $0.02, surpassing the consensus estimate of ($0.01) by $0.03. The net margin was negative at 21.66%, and the return on equity was also negative at 3.38%. BlackBerry's revenue was recorded at $143 million, slightly below analyst expectations of $144.84 million. This represents a 5.9% decline compared to the same quarter last year. Analysts predict that BlackBerry will post an EPS of -0.06 for the current year.

Analyst Ratings Overview

Several research analysts have commented on BlackBerry's performance. On December 20th, Canaccord Genuity Group adjusted their price target for BlackBerry from $2.80 to $3.00, maintaining a 'hold' rating. StockNews.com upgraded BlackBerry shares from 'sell' to 'hold' on December 9th. TD Cowen raised their rating from 'hold' to 'buy' and increased their price goal to $4.00. Robert W. Baird also raised their target from $3.00 to $3.50, while Royal Bank of Canada lifted their target from $3.00 to $3.25. Overall, six analysts rated the stock as hold, three as buy, and one as strong buy, leading to an average rating of 'Moderate Buy' and an average target price of $3.60.

Institutional Ownership Changes

Recent reports indicate that several hedge funds have adjusted their stakes in BlackBerry. Barclays PLC increased its holdings by 60.2% during the third quarter, now owning 249,218 shares worth $652,000 after purchasing an additional 93,651 shares. Toronto Dominion Bank raised its stake by 5.3%, owning 718,314 shares valued at $1,882,000 following an additional buy of 36,372 shares. Geode Capital Management LLC increased their holdings by 2.9%, now at 267,073 shares worth $706,000. Public Employees Retirement System of Ohio also established a new position in the stock valued at about $410,000. Finally, Orion Portfolio Solutions LLC grew their holdings by 121.1%. In total, about 54.48% of BlackBerry's stock is held by institutional investors and hedge funds.

About BlackBerry Limited

BlackBerry Limited is a global leader in intelligent security software and services for enterprises and governments. The company operates in three segments: Cybersecurity, IoT, and Licensing and Other. Their offerings include endpoint security solutions and unified endpoint management solutions, among others.

BlackBerry, Stock, Insider