Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells 10,000 Shares of Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $13.98, for a total value of $139,800.00. Following the transaction, the director owned 690,459 shares in the company, valued at $9,652,616.82. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackRock Short-Term California Muni Bond ETF Stock Up 3.8%

Shares of NASDAQ:CALY traded up $0.51 on Thursday, reaching $14.00. 3,338,921 shares of the company’s stock were exchanged, compared to its average volume of 3,444,504. The business’s 50-day moving average is $33.26 and its two-hundred day moving average is $44.52. BlackRock Short-Term California Muni Bond ETF has a fifty-two week low of $5.42 and a fifty-two week high of $16.65. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -43.75 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last posted its earnings results on Thursday, February 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20. The company had revenue of $367.50 million during the quarter, compared to the consensus estimate of $785.31 million. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) earnings per share.

Analyst Ratings Changes

Several brokerages have recently issued reports on CALY. KeyCorp upgraded BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. decreased their target price on BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday. B. Riley Financial upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $19.00 in a research report on Thursday, January 22nd. Finally, Truist Financial lifted their price objective on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th.

BlackRock Short-Term California Muni Bond ETF Company Profile

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.