BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 99,000 Shares of Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 99,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $8.74, for a total value of $865,260.00. Following the transaction, the chief executive officer owned 542,494 shares of the company’s stock, valued at $4,741,397.56. This represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 21st, John Giamatteo sold 151,000 shares of BlackBerry stock. The stock was sold at an average price of $9.40, for a total value of $1,419,400.00.
• On Friday, October 9th, John Giamatteo sold 27,004 shares of BlackBerry stock. The stock was sold at an average price of $8.36, for a total value 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 value of $269,302.40.

BlackBerry Stock Down 8.9%

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

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The firm had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same period last year, the firm posted $0.04 earnings per share. BlackBerry’s revenue for the quarter 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. As a group, equities analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BB has been the subject of several research reports. Zacks Research lowered shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. TD upped their target price on shares of BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, BlackBerry has a consensus rating of “Hold” and an average target price of $9.86.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently modified their holdings of the stock. V2 Financial group LLC increased its position in shares of BlackBerry by 6.8% during the 1st quarter. V2 Financial group LLC now owns 32,100 shares of the company’s stock valued at $104,000 after purchasing an additional 2,050 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in BlackBerry during the 2nd quarter valued at $31,000. CoreCap Advisors LLC purchased a new stake in BlackBerry during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC purchased a new stake in BlackBerry during the 2nd quarter valued at $32,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in BlackBerry in the third quarter worth $28,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

About BlackBerry

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.