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

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 151,000 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 641,494 shares of the company’s stock, valued at $6,030,043.60. The trade was a 19.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, October 22nd, John Giamatteo sold 99,000 shares of BlackBerry stock. The stock was sold at an average price of $8.74, for a total value 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 value of $269,302.40.

BlackBerry Stock Performance

Shares of NYSE:BB traded down $0.84 during trading hours on Thursday, hitting $8.57. The stock had a trading volume of 12,404,331 shares, compared to its average volume of 18,277,428. 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 stock’s fifty day simple moving average is $8.34 and its 200 day simple moving average is $8.10. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 71.41 and a beta of 2.20. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. 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 company posted $0.04 EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Sell-side analysts anticipate that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BB shares. TD lifted their price objective on shares of BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Raymond James Financial boosted their price target on BlackBerry from $4.75 to $9.50 and gave the stock a “market perform” rating in a research report on Friday, June 26th. Stifel Nicolaus started coverage on BlackBerry in a research note on Wednesday, June 24th. They set a “buy” rating and a $12.00 price target for the company. Finally, Canaccord Genuity Group lowered their price objective on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a report on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.86.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of BlackBerry during the 2nd quarter worth approximately $31,000. CoreCap Advisors LLC bought a new stake in shares of BlackBerry during the second quarter valued at approximately $31,000. Elevation Wealth Partners LLC bought a new stake in shares of BlackBerry during the second quarter valued at approximately $32,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of BlackBerry in the third quarter valued at $28,000. Finally, Global Retirement Partners LLC acquired a new position in shares of BlackBerry in the second quarter valued at $50,000. 54.48% of the stock is currently owned by institutional investors.

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.