Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells $272,800.00 in Stock

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

BlackRock Short-Term California Muni Bond ETF Stock Performance

CALY opened at $14.60 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of -45.63 and a beta of 0.96. The company has a 50-day moving average of $31.81 and a 200-day moving average of $44.01. BlackRock Short-Term California Muni Bond ETF has a 1-year low of $5.42 and a 1-year high of $16.65.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. KeyCorp upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research note on Friday, January 16th. Finally, B. Riley Financial upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd.

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.