Insider Buying: BlackBerry (NYSE:BB) Director Purchases $40,900.00 in Stock

BlackBerry Limited (NYSE:BB) Director David Chaikof bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were acquired at an average cost of $8.18 per share, for a total transaction of $40,900.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $40,900. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

BlackBerry Stock Performance

BB stock traded down $0.38 during midday trading on Thursday, reaching $8.38. The company had a trading volume of 26,569,885 shares, compared to its average volume of 18,070,127. The firm has a market capitalization of $4.91 billion, a PE ratio of 69.83 and a beta of 2.23. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $6.91.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The firm had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same period in the prior year, the business earned $0.04 EPS. The firm’s revenue was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Analysts anticipate that BlackBerry Limited will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Canaccord Genuity Group reduced their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research note on Friday, September 25th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.86.

Institutional Investors Weigh In On BlackBerry

Several hedge funds have recently bought and sold shares of the business. Pension & Wealth Management Advisors Inc. purchased a new position in BlackBerry during the 3rd quarter valued at about $28,000. CoreCap Advisors LLC purchased a new stake in shares of BlackBerry in the second quarter worth approximately $31,000. Integrated Wealth Concepts LLC purchased a new stake in shares of BlackBerry in the second quarter worth approximately $31,000. Elevation Wealth Partners LLC acquired a new stake in shares of BlackBerry during the second quarter worth approximately $32,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of BlackBerry during the first quarter worth approximately $34,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

About BlackBerry

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.