Insider Selling: BlackBerry (NYSE:BB) CEO Sells 28,343 Shares of Stock

Key Points

• BlackBerry CEO John Joseph Giamatteo sold 28,343 shares of the company at an average price of $4.62, resulting in a total value of approximately $130,944.66, reducing his ownership by 4.75%.
• The company's stock rose to $4.80 during mid-day trading, with a market capitalization of $2.83 billion and a current debt-to-equity ratio of 0.27.
• BlackBerry reported earnings per share of $0.04 in its latest quarterly earnings, beating analysts’ estimates, despite a 10.6% decline in revenue year-over-year.

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Joseph Giamatteo sold 28,343 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $4.62, for a total value of $130,944.66. Following the completion of the sale, the chief executive officer owned 568,164 shares in the company, valued at approximately $2,624,917.68. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackBerry Stock Performance

Shares of NYSE BB traded up $0.30 during mid-day trading on Monday, hitting $4.80. The company had a trading volume of 12,605,259 shares, compared to its average volume of 16,372,360. BlackBerry Limited has a 1 year low of $2.24 and a 1 year high of $6.24. The stock's 50-day moving average price is $3.96 and its 200-day moving average price is $3.89. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -480.00 and a beta of 1.51.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. The firm had revenue of $130.96 million during the quarter, compared to analysts' expectations of $122.03 million. BlackBerry had a positive return on equity of 6.07% and a negative net margin of 0.60%.BlackBerry's revenue was down 10.6% compared to the same quarter last year. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. On average, sell-side analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current year.

Institutional Trading of BlackBerry

A number of large investors have recently modified their holdings of the company. Voya Investment Management LLC acquired a new position in shares of BlackBerry during the first quarter worth $95,166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BlackBerry by 1,390.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company's stock worth $71,397,000 after acquiring an additional 14,544,005 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of BlackBerry during the 2nd quarter worth about $52,441,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BlackBerry by 69.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock worth $87,064,000 after acquiring an additional 9,442,676 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of BlackBerry by 21,832.6% during the 2nd quarter. Marshall Wace LLP now owns 8,860,764 shares of the company's stock worth $40,582,000 after acquiring an additional 8,820,364 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BB. Robert W. Baird increased their target price on BlackBerry from $5.00 to $5.50 and gave the stock a "neutral" rating in a research report on Friday, September 26th. Wall Street Zen upgraded BlackBerry from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackBerry in a research note on Saturday, September 27th. Zacks Research upgraded BlackBerry from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, TD Securities downgraded BlackBerry from a "buy" rating to a "hold" rating and lifted their target price for the company from $4.00 to $5.00 in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.10.

About BlackBerry

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.