BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 125,000 Shares of Stock

Key Points

• BlackBerry CEO John Joseph Giamatteo sold 125,000 shares on July 8 at an average price of $11.00, totaling $1.375 million. After the sale, he still held 812,246 shares, and the transaction reduced his ownership by 13.34%.
• The CEO also made additional recent sales, including 152,012 shares on July 9 and 28,272 shares on July 2, suggesting a broader pattern of insider selling over several trading days.
• BlackBerry shares fell 4.0% to $10.97 while the company reported better-than-expected quarterly results, with EPS of $0.04 versus $0.03 expected and revenue up 25.6% year over year. Analysts currently maintain a consensus “Hold” rating with an average price target of $8.92.

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Joseph Giamatteo sold 125,000 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $11.00, for a total value of $1,375,000.00. Following the completion of the transaction, the chief executive officer owned 812,246 shares in the company, valued at $8,934,706. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, July 9th, John Joseph Giamatteo sold 152,012 shares of BlackBerry stock. The shares were sold at an average price of $11.35, for a total value of $1,725,336.20.
• On Thursday, July 2nd, John Joseph Giamatteo sold 28,272 shares of BlackBerry stock. The stock was sold at an average price of $11.22, for a total value of $317,211.84.

BlackBerry Trading Down 4.0%

Shares of BlackBerry stock traded down $0.46 during trading on Friday, hitting $10.97. 17,606,601 shares of the company were exchanged, compared to its average volume of 20,262,213. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a market capitalization of $6.43 billion, a P/E ratio of 121.96 and a beta of 2.20. The firm's fifty day moving average price is $8.70 and its 200 day moving average price is $5.50. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. BlackBerry had a net margin of 10.31% and a return on equity of 11.66%. The business had revenue of $152.90 million for the quarter, compared to the consensus estimate of $136.10 million. During the same period last year, the company posted $0.02 EPS. BlackBerry's revenue for the quarter was up 25.6% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. As a group, sell-side analysts expect that BlackBerry Limited will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently modified their holdings of the business. CoreCap Advisors LLC bought a new position in shares of BlackBerry in the 2nd quarter valued at about $31,000. Elevation Wealth Partners LLC bought a new stake in BlackBerry during the second quarter worth about $32,000. Delos Wealth Advisors LLC bought a new stake in BlackBerry during the third quarter worth about $34,000. Wealthfront Advisers LLC acquired a new position in BlackBerry during the first quarter valued at approximately $34,000. Finally, Bank of New York Mellon Corp acquired a new position in BlackBerry during the first quarter valued at approximately $37,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BB. Canaccord Genuity Group increased their target price on BlackBerry from $8.20 to $10.30 and gave the stock a "hold" rating in a report on Friday, June 26th. Stifel Nicolaus assumed coverage on BlackBerry in a report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 price target on the stock. TD increased their price objective on BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Royal Bank Of Canada lifted their target price on BlackBerry from $4.50 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, June 26th. Finally, Weiss Ratings cut BlackBerry from a "hold (c)" rating to a "sell (d+)" rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of "Hold" and a consensus price target of $8.92.

About BlackBerry

BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry's core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.

At the heart of BlackBerry's offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.

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