WATERLOO, Ontario—Mattias Eriksson, the President of Internet of Things (IoT) at BlackBerry Ltd (NYSE:BB), recently executed a transaction involving the company's common shares. According to a recent filing, Eriksson sold 12,680 shares, garnering a total of $50,720. The shares were sold at a weighted average price of $4.00, with the sale occurring on January 6, 2025. The transaction comes as BlackBerry's stock trades near its 52-week high of $4.35, having surged 67% over the past six months.
The sale was part of a transaction to cover withholding taxes upon the vesting of Restricted Share Units (RSUs). Following this transaction, Eriksson holds 278,306 shares in the company. According to InvestingPro analysis, while BlackBerry isn't currently profitable, analysts expect the company to return to profitability this fiscal year. Get deeper insights with InvestingPro's comprehensive research report, available for BB and 1,400+ other stocks.
In addition to the sale, Eriksson also acquired 37,879 common shares through the vesting of RSUs. This acquisition did not involve any direct purchase cost, as each RSU represents a contingent right to receive one common share or an equivalent amount of cash, or a combination of the two, at the discretion of BlackBerry.
The transactions highlight Eriksson's ongoing involvement with BlackBerry's equity compensation plan.
In other recent news, BlackBerry Limited has announced a partnership with Microsoft (NASDAQ:MSFT) to expedite the development of Software-Defined Vehicles (SDVs). This collaboration integrates 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 company's QNX division has been rebranded as part of a strategy to strengthen its position in the automotive and embedded software markets.
The Q2 financial results for fiscal year 2025 reported by BlackBerry exceeded expectations, with a total revenue of $145 million, despite a non-GAAP operating loss of $4 million. Looking ahead to 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.
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. 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, which positively influenced investor confidence.
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