BlackBerry (NYSE:BB) CEO Sells $225,753.44 in Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 27,004 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.36, for a total value of $225,753.44. Following the transaction, the chief executive officer directly owned 792,494 shares of the company’s stock, valued at approximately $6,625,249.84. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, October 2nd, John Giamatteo sold 29,272 shares of BlackBerry stock. The shares were sold at an average price of $9.20, for a total value of $269,302.40.

BlackBerry Stock Up 5.9%

BB opened at $8.71 on Friday. BlackBerry Limited has a one year low of $3.12 and a one year high of $13.59. 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 moving average is $8.36 and its 200-day moving average is $7.95. The company has a market capitalization of $5.12 billion, a PE ratio of 48.41 and a beta of 2.20.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating 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 business had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company’s 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. On average, equities analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently modified their holdings of the stock. Triasima Portfolio Management inc. acquired a new stake in shares of BlackBerry during the third quarter worth $814,000. Loftus Peak Pty Ltd purchased a new stake in shares of BlackBerry during the third quarter valued at $16,158,000. The Manufacturers Life Insurance Company boosted its position in shares of BlackBerry by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock valued at $6,673,000 after purchasing an additional 40,350 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of BlackBerry in the 2nd quarter valued at $31,000. Finally, Nykredit A S acquired a new position in shares of BlackBerry in the 2nd quarter valued at $111,000. 54.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BB. Stifel Nicolaus began coverage on shares of BlackBerry in a report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price target for the company. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Zacks Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a report on Monday, September 21st. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.86.

About BlackBerry

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.