BlackBerry (TSE:BB) Shares Down 14.2% on Insider Selling

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY) dropped 14.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as C$12.80 and last traded at C$12.84. 6,118,081 shares were traded during trading, an increase of 55% from the average daily volume of 3,937,589 shares. The stock had previously closed at C$14.97.

Specifically, insider Philip Simon Kurtz sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of C$15.92, for a total transaction of C$477,600.00. Following the transaction, the insider directly owned 95,158 shares in the company, valued at C$1,514,915.36. The trade was a 23.97% decrease in their position.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$12.00 price objective on BlackBerry and gave the company a “buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, BlackBerry has an average rating of “Moderate Buy” and an average target price of C$12.00.

BlackBerry Stock Down 1.9%

The stock has a market cap of C$7.38 billion, a price-to-earnings ratio of 126.00, a price-to-earnings-growth ratio of 0.06 and a beta of 1.16. The company has a debt-to-equity ratio of 29.45, a current ratio of 2.20 and a quick ratio of 1.49. The firm’s 50-day moving average is C$12.93 and its 200 day moving average is C$7.98.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last posted its earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share (EPS) for the quarter. BlackBerry had a return on equity of 8.10% and a net margin of 10.32%.The business had revenue of C$210.94 million during the quarter. Sell-side analysts anticipate that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

BlackBerry Company Profile

BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company’s high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.