BlackBerry (NYSE:BB) Stock: Insider John Joseph Giamatteo Sells 29,272 Shares

by · The Markets Daily

BlackBerry Limited (NYSE:BB – Get Free Report) CEO John Giamatteo sold 29,272 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $9.20, for a total transaction of $269,302.40. Following the transaction, the chief executive officer directly owned 758,416 shares of the company’s stock, valued at $6,977,427.20. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Thursday, July 9th, John Giamatteo sold 152,012 shares of BlackBerry stock. The shares were sold at an average price of $11.35, for a total transaction of $1,725,336.20.
  • On Wednesday, July 8th, John Giamatteo sold 125,000 shares of BlackBerry stock. The shares were sold at an average price of $11.00, for a total value of $1,375,000.00.

BlackBerry Stock Performance

Shares of NYSE BB traded down $0.23 during midday trading on Monday, hitting $9.07. 15,140,370 shares of the company’s stock were exchanged, compared to its average volume of 18,602,318. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. The stock’s 50 day moving average price is $8.31 and its 200-day moving average price is $7.60. The firm has a market cap of $5.33 billion, a P/E ratio of 75.62 and a beta of 2.20. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59.

BlackBerry (NYSE:BB – Get Free Report) last posted 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. The firm had revenue of $166.56 million for the quarter, compared to analysts’ expectations of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%.The firm’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Equities research analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Canadian Imperial Bank of Commerce raised their price target on BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a report on Friday, June 26th. TD Securities restated a “hold” rating and set a $8.00 price target on shares of BlackBerry in a research report on Friday, June 26th. Canaccord Genuity Group reduced their price target on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research note on Friday, September 25th. TD increased their price objective on shares of BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.86.

View Our Latest Research Report on BlackBerry

Institutional Investors Weigh In On BlackBerry

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc bought a new position in shares of BlackBerry during the 2nd quarter valued at about $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BlackBerry during the second quarter valued at approximately $69,786,000. Bank of America Corp DE acquired a new stake in BlackBerry during the second quarter valued at approximately $64,718,000. BlackRock Inc. bought a new stake in BlackBerry during the second quarter worth approximately $42,002,000. Finally, Primecap Management Co. CA bought a new stake in BlackBerry during the second quarter worth approximately $36,362,000. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

(Get Free Report)

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.

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