Insider Selling: BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Sells $537,200.00 in Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 40,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $13.43, for a total value of $537,200.00. Following the transaction, the director owned 720,459 shares of the company’s stock, valued at approximately $9,675,764.37. The trade was a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

BlackRock Short-Term California Muni Bond ETF Stock Performance

NASDAQ CALY traded up $0.51 during trading on Thursday, hitting $14.00. The stock had a trading volume of 3,338,921 shares, compared to its average volume of 3,444,504. BlackRock Short-Term California Muni Bond ETF has a 12 month low of $5.42 and a 12 month high of $16.65. The company’s 50-day moving average price is $33.26 and its two-hundred day moving average price is $44.52. The company has a market capitalization of $2.57 billion, a PE ratio of -43.75 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20. The business had revenue of $367.50 million during the quarter, compared to analyst estimates of $785.31 million. During the same quarter last year, the business earned ($0.33) earnings per share. BlackRock Short-Term California Muni Bond ETF’s revenue for the quarter was down 1.1% on a year-over-year basis.

Analyst Ratings Changes

Several research firms have issued reports on CALY. Truist Financial upped their price target on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. KeyCorp raised shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a report on Friday, January 16th. JPMorgan Chase & Co. reduced their price target on BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd.

BlackRock Short-Term California Muni Bond ETF Company Profile

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.