John Joseph Giamatteo Sells 29,402 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 29,402 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the transaction, the chief executive officer now owns 490,761 shares of the company’s stock, valued at approximately $1,963,044. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 2nd, John Joseph Giamatteo sold 155,815 shares of BlackBerry stock. The shares were sold at an average price of $3.68, for a total value of $573,399.20.

BlackBerry Stock Performance

NYSE:BB opened at $4.05 on Friday. The stock has a 50 day simple moving average of $2.96 and a 200 day simple moving average of $2.59. The stock has a market cap of $2.40 billion, a P/E ratio of -16.20 and a beta of 1.30. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.35. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last announced its 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. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. Research analysts anticipate that BlackBerry Limited will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Canaccord Genuity Group boosted their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BB. Millennium Management LLC raised its stake in BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of BlackBerry by 15.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock worth $31,238,000 after acquiring an additional 1,637,916 shares during the period. Potrero Capital Research LLC acquired a new stake in shares of BlackBerry during the 3rd quarter worth approximately $2,359,000. Cubist Systematic Strategies LLC increased its stake in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after acquiring an additional 488,934 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in BlackBerry during the third quarter worth $1,285,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

About BlackBerry

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.