John Joseph Giamatteo Sells 155,815 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the sale, the chief executive officer now directly owns 385,552 shares in the company, valued at $1,418,831.36. This trade represents a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

BlackBerry Trading Down 0.5 %

NYSE:BB opened at $4.07 on Wednesday. The company has a market cap of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $2.57. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.35.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. BlackBerry’s revenue was down 5.9% compared to the same quarter last year. Research analysts forecast that BlackBerry Limited will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On BlackBerry

Several institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after buying an additional 9,156 shares during the last quarter. TD Asset Management Inc grew its position in shares of BlackBerry by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after acquiring an additional 21,259 shares during the period. Werba Rubin Papier Wealth Management purchased a new stake in shares of BlackBerry in the 2nd quarter worth $43,000. Headlands Technologies LLC raised its holdings in BlackBerry by 141.4% in the 2nd quarter. Headlands Technologies LLC now owns 806,729 shares of the company’s stock worth $2,001,000 after purchasing an additional 472,577 shares during the period. Finally, Virtu Financial LLC lifted its position in BlackBerry by 911.4% during the second quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock valued at $920,000 after purchasing an additional 334,466 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Canaccord Genuity Group lifted their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Finally, CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BlackBerry has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.