Insider Selling: BlackBerry (NYSE:BB) CEO Sells $225,753.44 in Stock

Key Points

• BlackBerry CEO John Giamatteo sold 27,004 shares at an average price of $8.36, generating $225,753.44 and reducing his ownership by 3.3% to 792,494 shares. He also sold 29,272 shares the prior week at $9.20 each.
• BlackBerry shares traded at $8.48, with the stock up 0.3%. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.07 EPS and $166.56 million in revenue, up 26% year over year.
• Analysts maintain a generally cautious view, with two Buy ratings and seven Holds; the stock has an overall Hold rating and an average price target of $9.86. Institutional investors and hedge funds own 54.48% of the shares.

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Giamatteo sold 27,004 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.36, for a total value of $225,753.44. Following the completion of the sale, the chief executive officer owned 792,494 shares of the company's stock, valued at $6,625,249.84. The trade was a 3.30% 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 link.

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

• On Friday, October 2nd, John Giamatteo sold 29,272 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total value of $269,302.40.

BlackBerry Trading Up 0.3%

Shares of NYSE BB traded up $0.03 during trading on Tuesday, reaching $8.48. The company had a trading volume of 9,432,002 shares, compared to its average volume of 18,444,422. The company's fifty day moving average price is $8.38 and its 200-day moving average price is $7.84. BlackBerry Limited has a 12 month low of $3.12 and a 12 month high of $13.59. The stock has a market cap of $4.98 billion, a P/E ratio of 70.63 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $166.56 million during 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 business's quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, research analysts expect that BlackBerry Limited will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BB shares. Weiss Ratings raised shares of BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Raymond James Financial lifted their price objective on BlackBerry from $4.75 to $9.50 and gave the stock a "market perform" rating in a research report on Friday, June 26th. TD Securities reissued a "hold" rating and issued a $8.00 price objective on shares of BlackBerry in a research note on Friday, June 26th. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 target price on shares of BlackBerry in a research report on Monday, September 21st. Finally, Wall Street Zen raised BlackBerry from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.86.

Institutional Investors Weigh In On BlackBerry

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

BlackBerry Company Profile

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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