Investors Purchase Large Volume of Call Options on BlackBerry (NYSE:BB)

BlackBerry Limited (NYSE:BBGet Free Report) saw unusually large options trading on Tuesday. Stock investors purchased 24,066 call options on the company. This represents an increase of approximately 66% compared to the average volume of 14,537 call options.

Insiders Place Their Bets

In other BlackBerry news, CEO John Joseph Giamatteo sold 18,279 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $3.23, for a total transaction of $59,041.17. Following the transaction, the chief executive officer now owns 206,090 shares in the company, valued at $665,670.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackBerry news, CEO John Joseph Giamatteo sold 18,279 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $3.23, for a total transaction of $59,041.17. Following the transaction, the chief executive officer now owns 206,090 shares in the company, valued at $665,670.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Brace purchased 35,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were acquired at an average price of $2.79 per share, for a total transaction of $97,650.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $97,650. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 44,090 shares of company stock worth $142,812. 1.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BB. Optiver Holding B.V. purchased a new position in shares of BlackBerry during the third quarter worth $25,000. GHP Investment Advisors Inc. purchased a new position in BlackBerry in the third quarter valued at $28,000. Highlander Capital Management LLC boosted its holdings in BlackBerry by 77.8% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after purchasing an additional 3,500 shares during the period. Virtu Financial LLC purchased a new position in BlackBerry in the fourth quarter valued at $36,000. Finally, Creative Planning purchased a new position in BlackBerry in the fourth quarter valued at $37,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BB has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on BlackBerry from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 14th. StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. CIBC reduced their target price on BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Canaccord Genuity Group reduced their target price on BlackBerry from $5.00 to $4.25 and set a “hold” rating for the company in a report on Thursday, December 21st. Finally, TD Securities cut their price target on BlackBerry from $4.00 to $3.75 and set a “hold” rating for the company in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.08.

View Our Latest Research Report on BB

BlackBerry Stock Up 3.9 %

NYSE:BB opened at $2.81 on Wednesday. BlackBerry has a one year low of $2.46 and a one year high of $5.75. The stock has a 50 day moving average price of $2.77 and a 200 day moving average price of $3.45.

BlackBerry Company Profile

(Get Free Report)

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.

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