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    Home » Blackberry’s chief accounting officer sells $11,340 in stock By Investing.com
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    Blackberry’s chief accounting officer sells $11,340 in stock By Investing.com

    userBy userJanuary 6, 2025No Comments3 Mins Read
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    In a recent filing with the Securities and Exchange Commission, BlackBerry Ltd (NYSE:), a technology company with a market capitalization of $2.4 billion, revealed that Jay P. Chai, the company’s Senior Vice President and Chief Accounting Officer, sold a portion of his holdings in the company. According to InvestingPro analysis, BlackBerry’s stock is currently trading near its 52-week high, having gained over 63% in the past six months. On January 2, Chai sold 3,065 common shares at an average price of $3.70 per share, totaling $11,340.

    The sale was part of a series of transactions that day, which also included the acquisition of 4,859 common shares through the vesting of restricted share units. This transaction did not involve any cash exchange. Following these transactions, Chai holds a total of 22,276 shares of BlackBerry.

    The sale of shares was conducted to cover withholding taxes upon the vesting of restricted share units, as noted in the filing.

    In other recent news, BlackBerry Limited has reported significant advancements, including a strategic partnership with Microsoft (NASDAQ:) to speed up the development of Software-Defined Vehicles (SDVs). The collaboration aims to integrate BlackBerry’s QNX Software (ETR:) Development Platform with Microsoft Azure, offering a robust cloud environment for developers. This initiative is anticipated to streamline the creation, testing, and integration of software essential for the next wave of automotive technology.

    Additionally, BlackBerry’s IoT division has been rebranded as QNX to strengthen its position in the automotive and embedded software markets. The company’s Q2 financial results for fiscal year 2025 exceeded expectations, reporting a total revenue of $145 million. Looking ahead to Q3, BlackBerry expects IoT revenue of $56 to $60 million and Cyber revenue of $86 to $90 million.

    Analysts from Baird, RBC Capital, and Canaccord Genuity have adjusted their financial outlooks for BlackBerry. Baird raised its price target to $3.50, RBC Capital increased the price target to $3.25, while Canaccord Genuity raised the price target to $3.00, all maintaining a neutral outlook on the stock.

    Furthermore, BlackBerry’s financial outlook has improved as estimates for fiscal years 2026 and 2027 were revised upward, following the company’s third-quarter fiscal year 2025 results that exceeded expectations. The company also reported positive earnings per share for the first time in three years. These are among the recent developments that have shaped BlackBerry’s current position in the market.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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