WATERLOO, Ontario—BlackBerry Ltd (NYSE:BB) Chief Financial Officer Tim Foote recently sold 1,558 common shares of the company, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $3.68, amounting to a total transaction value of $5,733. The transaction comes as BlackBerry's stock trades near its 52-week high of $4.12, with the company's market capitalization standing at $2.42 billion. According to InvestingPro data, the stock has shown remarkable momentum, gaining over 63% in the past six months.
The sale was part of a series of transactions on January 2, 2025. Alongside the sale, Foote acquired 4,859 common shares through the vesting of Restricted Share Units (RSUs). These acquisitions were made without any direct financial transaction as they were part of the company's compensation package. InvestingPro analysis suggests BlackBerry is currently fairly valued, with a Financial Health Score rated as "Fair." Subscribers can access 8 additional key insights about BlackBerry's valuation and future prospects.
As a result of these transactions, Foote's direct ownership in BlackBerry has been adjusted to 8,103 shares. This recent activity reflects ongoing adjustments in executive ownership as part of routine financial management and compensation practices at BlackBerry. The stock currently trades at $4.09, maintaining its strong performance into the new year.
In other recent news, BlackBerry Limited has announced a collaboration with Microsoft (NASDAQ:MSFT) to expedite the development of Software-Defined Vehicles (SDVs). The partnership will integrate BlackBerry's QNX Software (ETR:SOWGn) Development Platform (SDP) 8.0 with Microsoft Azure, aiming to streamline the creation, testing, and integration of automotive technology. The partnership also includes future plans to expand the solution to incorporate the QNX Hypervisor and the new QNX Cabin.
In another development, BlackBerry's subsidiary QNX has been rebranded as part of a strategy to strengthen its position in the automotive and embedded software markets. The rebranding is expected to enhance the company's visibility and leadership within these sectors.
In financial news, BlackBerry's Q2 financial results for fiscal year 2025 exceeded expectations, reporting a total revenue of $145 million. Despite this, the company reported a non-GAAP operating loss of $4 million. For Q3, BlackBerry expects IoT revenue of $56 to $60 million and Cyber revenue of $86 to $90 million, aiming to achieve positive cash flow and EBITDA in Q4.
Several financial services firms, including Baird, RBC (TSX:RY) Capital, and Canaccord Genuity (TSX:CF), have adjusted their financial outlooks for BlackBerry. All firms raised their price targets while maintaining a neutral outlook on the stock. These revisions reflect BlackBerry's recent sale of its cybersecurity unit, Cylance, to Arctic Wolf and the dismissal of a lawsuit filed by former executive Neelam Sandhu.
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