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

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 99,000 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $8.74, for a total value of $865,260.00. Following the completion of the transaction, the chief executive officer owned 542,494 shares in the company, valued at approximately $4,741,397.56. This trade represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 21st, John Giamatteo sold 151,000 shares of BlackBerry stock. The shares were 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 shares were 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%

Shares of BB traded down $0.84 during trading on Thursday, reaching $8.57. The company’s stock had a trading volume of 12,404,331 shares, compared to its average volume of 18,277,428. The company has a fifty day moving average of $8.34 and a two-hundred day moving average of $8.10. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 71.41 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 24th. The company reported $0.07 EPS 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 company had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same period in the prior year, the business posted $0.04 EPS. The business’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, sell-side analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Institutional Trading of BlackBerry

Several institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of BlackBerry during the second quarter worth $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BlackBerry in the 2nd quarter worth about $69,786,000. Bank of America Corp DE acquired a new position in shares of BlackBerry in the 2nd quarter valued at about $64,718,000. Renaissance Technologies LLC boosted its holdings in shares of BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock valued at $11,488,000 after buying an additional 2,063,153 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of BlackBerry during the 2nd quarter valued at about $42,002,000. Institutional investors own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a report on Friday, September 25th. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 target price on shares of BlackBerry in a research note on Monday, September 21st. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. TD Securities reiterated a “hold” rating and issued a $8.00 price target on shares of BlackBerry in a research note on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce lifted their price target on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.86.

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.