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

BlackBerry Limited (NYSE:BB) CFO Tim Foote sold 8,441 shares of the firm’s 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 sale, the chief financial officer directly owned 71,616 shares of the company’s stock, valued at approximately $598,709.76. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction of $30,074.80.
• On Thursday, October 1st, Tim Foote sold 16,672 shares of BlackBerry stock. The stock was sold at an average price of $9.14, for a total transaction of $152,382.08.

BlackBerry Price Performance

BB opened at $8.21 on Thursday. The firm has a market cap of $4.82 billion, a P/E ratio of 68.45 and a beta of 2.20. The firm has a 50-day moving average of $8.37 and a 200 day moving average of $7.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted $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. On average, research analysts expect that BlackBerry Limited will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

BB has been the topic of a number of research reports. Canadian Imperial Bank of Commerce lifted their price target on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a report on Friday, June 26th. Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. TD raised their target price on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a research report on Monday, September 21st. Finally, Canaccord Genuity Group lowered their target price on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.86.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in shares of BlackBerry in the second quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of BlackBerry during the 2nd quarter valued at approximately $69,786,000. Bank of America Corp DE purchased a new stake in shares of BlackBerry during the 2nd quarter valued at approximately $64,718,000. Renaissance Technologies LLC boosted its holdings in BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock worth $11,488,000 after buying an additional 2,063,153 shares during the period. Finally, BlackRock Inc. bought a new position in BlackBerry in the 2nd quarter worth approximately $42,002,000. Institutional investors own 54.48% of the company’s stock.

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.