John Joseph Giamatteo Sells 29,402 Shares of BlackBerry Limited (NYSE:BB) Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 29,402 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $117,608.00. Following the sale, the chief executive officer now owns 490,761 shares in the company, valued at $1,963,044. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 2nd, John Joseph Giamatteo sold 155,815 shares of BlackBerry stock. The shares were sold at an average price of $3.68, for a total value of $573,399.20.

BlackBerry Price Performance

BB stock opened at $4.07 on Friday. The company has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $2.58. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $4.35. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30.

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

Institutional Trading of BlackBerry

A number of institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc raised its stake in shares of BlackBerry by 1.4% during the second 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 in the last quarter. Headlands Technologies LLC increased 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 buying an additional 472,577 shares during the period. Virtu Financial LLC raised its holdings in shares of BlackBerry by 911.4% during the second quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock worth $920,000 after purchasing an additional 334,466 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new position in shares of BlackBerry in the 2nd quarter valued at about $169,000. Finally, XTX Topco Ltd purchased a new stake in BlackBerry in the 2nd quarter worth approximately $396,000. 54.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada increased their price objective on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a report on Tuesday, December 17th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, CIBC lifted their price target on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, BlackBerry presently 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.