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WATERLOO, Ontario—Mattias Eriksson, President of IoT at BlackBerry Ltd (NYSE:BB), recently sold 14,475 common shares of the company, totaling $53,268. The shares were sold at an average price of $3.68 per share, with the prices ranging from $3.63 to $3.78. The stock has since climbed to $4.09, approaching its 52-week high of $4.12, marking a remarkable 63.6% gain over the past six months. This transaction was part of a routine process to cover withholding taxes upon the vesting of Restricted Share Units (RSUs).
Following the sale, Eriksson holds 238,838 shares directly. Additionally, he acquired 38,873 common shares through the vesting of RSUs, although this transaction did not involve any cash exchange. These RSUs were initially granted on January 2, 2024, and are set to vest in three equal annual installments, concluding on January 2, 2027.
In other recent news, BlackBerry Limited has seen a surge in its business operations due to several significant developments. The company announced a partnership with Microsoft (NASDAQ:MSFT) to expedite the development of Software-Defined Vehicles (SDVs), integrating the QNX Software (ETR:SOWGn) Development Platform with Microsoft Azure. This collaboration aims to streamline software creation, testing, and integration, essential for future automotive technology. BlackBerry's QNX division, previously known as its IoT division, has been rebranded to enhance 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, 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.
Several analysts have revised their outlook on BlackBerry following these developments. Baird raised its price target to $3.50, while Canaccord Genuity increased the price target to $3.00, both maintaining a neutral outlook. RBC Capital also increased its price target to $3.25. 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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