Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells $138,200.00 in Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 10,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $13.82, for a total value of $138,200.00. Following the completion of the transaction, the director directly owned 680,459 shares of the company’s stock, valued at $9,403,943.38. This trade represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BlackRock Short-Term California Muni Bond ETF Stock Up 0.1%

Shares of CALY opened at $14.01 on Friday. The firm has a market capitalization of $2.58 billion, a PE ratio of -43.78 and a beta of 0.96. The firm has a 50-day moving average price of $28.15 and a 200 day moving average price of $42.79. BlackRock Short-Term California Muni Bond ETF has a 52-week low of $5.42 and a 52-week high of $16.65.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on CALY shares. Zacks Research raised BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. KeyCorp upgraded BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research report on Friday, January 16th. B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price target on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, Truist Financial raised their price target 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 report 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.