BlackBerry Limited CAO Sells $11,340.50 in Stock

On January 2nd, BlackBerry Limited (NYSE:BB) Chief Accounting Officer Jay P. Chai sold 3,065 shares of the company's stock. The shares were sold at an average price of $3.70, totaling $11,340.50. After this transaction, Chai now holds 22,276 shares in BlackBerry, which are valued at approximately $82,421.20. This sale marks a 12.10% reduction in Chai's ownership of the stock. The details of this transaction were made public through a filing with the SEC.

BlackBerry Stock Performance

On Monday, shares of BlackBerry stock saw an increase of $0.41, reaching $4.09. The total trading volume for the day amounted to 26,316,168 shares, outpacing the average volume of 20,687,771 shares. The company's financial ratios include a debt-to-equity ratio of 0.27, a current ratio of 1.44, and a quick ratio of 1.44. BlackBerry has a market capitalization of $2.42 billion, with a PE ratio of -16.36 and a beta of 1.30. Over the past year, stock prices have fluctuated between a low of $2.01 and a high of $4.11.

Recent Earnings Reports

On December 19, BlackBerry reported its quarterly earnings, revealing an earnings per share (EPS) of $0.02 which exceeded analysts' estimates of ($0.01) by $0.03. Despite this positive surprise, BlackBerry reported a negative net margin of 21.66% and a negative return on equity of 3.38%. The quarterly revenue was reported at $143.00 million, slightly below the consensus estimate of $144.84 million, representing a year-over-year decline of 5.9%. Analysts predict BlackBerry will record an EPS of -0.06 for the current fiscal year.

Institutional Activity

In recent months, various hedge funds and institutional investors have adjusted their shares in BlackBerry. For example, Barclays PLC increased its stake by 60.2%, acquiring an additional 93,651 shares and now owning 249,218 shares valued at $652,000. Toronto Dominion Bank also raised its holdings by 5.3%, adding 36,372 shares, bringing its total to 718,314 shares worth $1,882,000. Additional investors like Geode Capital Management and Public Employees Retirement System of Ohio have also altered their positions. Currently, approximately 54.48% of BlackBerry’s stock is owned by institutional investors.

Wall Street Analysts’ Insights

An analysis of brokerages covering BlackBerry shows a range of recommendations. StockNews.com upgraded the stock from a "sell" to a "hold" rating in December. Meanwhile, TD Securities raised their rating from "hold" to "buy," increasing their price target from $3.25 to $4.00. Other firms have similarly raised their targets, indicating a consensus rating of "Moderate Buy" with an average price target of $3.60 across various analysts.

Company Overview

BlackBerry Limited specializes in providing intelligent security software and services for enterprises and governments globally. The company operates in three segments: Cybersecurity, IoT, and Licensing and Other. Its product offerings include advanced security solutions, secure communication tools, and endpoint management services.

BlackBerry, stocks, CAO