BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 151,000 Shares of Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 151,000 shares of BlackBerry stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $9.40, for a total transaction of $1,419,400.00. Following the transaction, the chief executive officer directly owned 641,494 shares in the company, valued at $6,030,043.60. This trade represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, October 22nd, John Giamatteo sold 99,000 shares of BlackBerry stock. The shares were sold at an average price of $8.74, for a total transaction of $865,260.00.
• On Friday, October 9th, John Giamatteo sold 27,004 shares of BlackBerry stock. The shares were sold at an average price of $8.36, for a total transaction of $225,753.44.
• On Friday, October 2nd, John Giamatteo sold 29,272 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total transaction of $269,302.40.

BlackBerry Stock Down 8.9%

Shares of NYSE BB opened at $8.57 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of 55.35 and a beta of 2.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. The company has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $8.13. BlackBerry Limited has a 1 year low of $3.12 and a 1 year high of $13.59.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The company had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BB. Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Raymond James Financial upped their target price on shares of BlackBerry from $4.75 to $9.50 and gave the company a “market perform” rating in a research report on Friday, June 26th. Zacks Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Canaccord Genuity Group lowered their target price on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research note on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, BlackBerry presently has an average rating of “Hold” and a consensus target price of $9.86.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pension & Wealth Management Advisors Inc. acquired a new position in BlackBerry during the third quarter worth $28,000. CoreCap Advisors LLC acquired a new stake in shares of BlackBerry in the second quarter valued at $31,000. Integrated Wealth Concepts LLC acquired a new stake in shares of BlackBerry in the second quarter valued at $31,000. Elevation Wealth Partners LLC acquired a new stake in shares of BlackBerry in the second quarter valued at $32,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of BlackBerry in the first quarter valued at $34,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.