BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson Sells 40,000 Shares of Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 40,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $13.43, for a total value of $537,200.00. Following the completion of the sale, the director owned 720,459 shares of the company’s stock, valued at approximately $9,675,764.37. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackRock Short-Term California Muni Bond ETF Stock Performance

CALY stock traded up $0.22 on Friday, reaching $14.29. The company’s stock had a trading volume of 1,195,823 shares, compared to its average volume of 3,376,793. The business has a fifty day simple moving average of $32.53 and a two-hundred day simple moving average of $44.30. BlackRock Short-Term California Muni Bond ETF has a 12-month low of $5.42 and a 12-month high of $16.65. The firm has a market cap of $2.63 billion, a PE ratio of -44.66 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.33) earnings per share.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research note on Monday. B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $19.00 in a report on Thursday, January 22nd. 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 on the stock in a report on Wednesday. Finally, 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 note on Friday, January 16th.

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.