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Mattias Eriksson, President of IoT at BlackBerry Ltd (NYSE:BB), recently sold a portion of his holdings in the company. According to a recent SEC filing, Eriksson sold a total of 7,218 common shares on January 3, 2025, at an average price of $4.00 per share, amounting to approximately $28,872. The transaction comes as BlackBerry's stock trades near its 52-week high of $4.12, having gained over 63% in the past six months according to InvestingPro data. The transactions were conducted to cover withholding taxes upon the vesting of Restricted Share Units. Following these sales, Eriksson holds 253,107 shares of BlackBerry. Based on InvestingPro's Fair Value analysis, the stock appears slightly overvalued at current levels, with additional insights available through InvestingPro's comprehensive research report, which covers key metrics and analysis for this $2.4 billion market cap company.
In other recent news, BlackBerry Limited has been making significant strides, particularly with its QNX division. The company announced a collaboration with Microsoft (NASDAQ:MSFT) to expedite the development of Software-Defined Vehicles (SDVs). This partnership integrates the QNX Software (ETR:SOWGn) Development Platform (SDP) 8.0 with Microsoft Azure, aiming to streamline the creation, testing, and integration of software essential for next-generation automotive technology.
BlackBerry has also rebranded its IoT division to QNX, a strategic move to strengthen its position in the automotive and embedded software markets. In financial news, BlackBerry's Q2 results for the fiscal year 2025 reported a total revenue of $145 million, despite a non-GAAP operating loss of $4 million.
Analyst firms 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, and Canaccord Genuity raised the price target to $3.00, all maintaining a neutral outlook on the stock. These revisions reflect recent developments including BlackBerry's 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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