Erik Anderson Sells 20,000 Shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 20,000 shares of BlackRock Short-Term California Muni Bond ETF stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.64, for a total transaction of $272,800.00. Following the transaction, the director owned 700,459 shares in the company, valued at $9,554,260.76. This represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BlackRock Short-Term California Muni Bond ETF Price Performance

NASDAQ:CALY opened at $14.60 on Friday. BlackRock Short-Term California Muni Bond ETF has a one year low of $5.42 and a one year high of $16.65. The business has a fifty day moving average price of $31.81 and a 200-day moving average price of $44.06. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -45.63 and a beta of 0.96.

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

Analysts Set New Price Targets

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

About BlackRock Short-Term California Muni Bond ETF

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.