BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 29,272 Shares of Company Stock

Key Points

• BlackBerry CEO John Giamatteo sold 29,272 shares at an average price of $9.20, worth approximately $269,302. Following the transaction, he retained 758,416 shares, a 3.72% reduction in his position.
• BlackBerry shares fell 2.4% to $9.07 in mid-day trading. The company recently reported quarterly EPS of $0.07 and revenue of $166.56 million, exceeding analyst expectations and marking 26% year-over-year revenue growth.
• Analyst sentiment remains cautious, with the stock carrying an average rating of “Hold” and an average price target of $9.86, although some firms maintain Buy ratings and targets as high as $12.

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Giamatteo sold 29,272 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $269,302.40. Following the sale, the chief executive officer owned 758,416 shares of the company's stock, valued at approximately $6,977,427.20. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, July 9th, John Giamatteo sold 152,012 shares of BlackBerry stock. The stock was sold at an average price of $11.35, for a total value 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 Down 2.4%

Shares of BB stock traded down $0.23 during mid-day trading on Monday, reaching $9.07. 15,140,370 shares of the company were exchanged, compared to its average volume of 18,602,318. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $5.33 billion, a P/E ratio of 75.62 and a beta of 2.20. The business's 50 day simple moving average is $8.31 and its 200 day simple moving average is $7.60.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The business had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business's revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on BB shares. Wall Street Zen upgraded BlackBerry from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Canaccord Genuity Group cut their price objective on BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a research note on Friday, September 25th. Raymond James Financial increased their target price on BlackBerry from $4.75 to $9.50 and gave the stock a "market perform" rating in a report on Friday, June 26th. Stifel Nicolaus initiated coverage on BlackBerry in a research report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 target price for the company. Finally, Weiss Ratings upgraded BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.86.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently bought and sold shares of BB. General American Investors Co. Inc. acquired a new position in BlackBerry during the 4th quarter valued at approximately $3,892,000. Renaissance Technologies LLC lifted its stake in BlackBerry by 139.2% in the first 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 last quarter. Nwam LLC bought a new stake in BlackBerry in the second quarter valued at $7,070,000. Canada Pension Plan Investment Board acquired a new position in shares of BlackBerry during the second quarter valued at $20,798,000. Finally, Havemeyer Place LP acquired a new position in shares of BlackBerry during the fourth quarter valued at $1,349,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

About BlackBerry

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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