Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells $537,200.00 in Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 40,000 shares of BlackRock Short-Term California Muni Bond ETF stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $13.43, for a total value of $537,200.00. Following the sale, the director directly owned 720,459 shares in the company, valued at $9,675,764.37. The trade was a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackRock Short-Term California Muni Bond ETF Stock Performance

NASDAQ:CALY opened at $14.60 on Friday. The stock has a market cap 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 has a 1 year low of $5.42 and a 1 year high of $16.65. The business has a fifty day moving average of $31.81 and a 200-day moving average of $44.01.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.25) earnings per share 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 analyst estimates of $785.31 million. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.33) EPS.

Wall Street Analysts Forecast Growth

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

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.