BlackBerry Limited (NYSE:BB) CEO Sells $573,399.20 in Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares in the company, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

John Joseph Giamatteo also recently made the following trade(s):

• On Monday, January 6th, John Joseph Giamatteo sold 29,402 shares of BlackBerry stock. The shares were sold at an average price of $4.00, for a total transaction of $117,608.00.

BlackBerry Trading Up 0.2 %

BlackBerry stock opened at $4.07 on Thursday. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.35. The business’s fifty day moving average is $2.89 and its 200 day moving average is $2.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. On average, sell-side analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

BB has been the subject of a number of analyst reports. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Royal Bank of Canada raised their price objective on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird raised their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.60.

Hedge Funds Weigh In On BlackBerry

Hedge funds and other institutional investors have recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its position in BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after acquiring an additional 1,637,916 shares during the last quarter. Millennium Management LLC boosted its position in BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock worth $8,510,000 after purchasing an additional 3,369,296 shares during the last quarter. Bank of Montreal Can grew its stake in shares of BlackBerry by 32.7% during the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock valued at $4,300,000 after purchasing an additional 427,083 shares during the period. TD Asset Management Inc increased its position in shares of BlackBerry by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after purchasing an additional 21,259 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its stake in shares of BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares during the period. 54.48% of the stock is owned by institutional investors.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.