Insider Selling: BlackBerry (NYSE:BB) CEO Sells $96,354.96 in Stock

Key Points

• BlackBerry CEO John Joseph Giamatteo sold 27,066 shares at an average price of $3.56 for $96,354.96, trimming his stake by 2.92% to 899,146 shares valued at about $3.20M.
• BB stock slid roughly 1.8% to $3.49 on above-average volume; analysts hold a consensus "Hold" rating with an average price target of $4.92, and the company has a market cap of $2.05B and a PE of 116.21.

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Joseph Giamatteo sold 27,066 shares of BlackBerry stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $3.56, for a total value of $96,354.96. Following the completion of the sale, the chief executive officer owned 899,146 shares of the company's stock, valued at $3,200,959.76. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

BlackBerry Stock Down 1.8%

Shares of BB stock traded down $0.07 on Tuesday, hitting $3.49. The stock had a trading volume of 9,706,857 shares, compared to its average volume of 7,478,344. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $3.42 and a 200 day moving average price of $3.99. The company has a market cap of $2.05 billion, a PE ratio of 116.21 and a beta of 1.70. BlackBerry Limited has a one year low of $2.81 and a one year high of $5.32.

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently added to or reduced their stakes in BB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in BlackBerry by 1.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 823,822 shares of the company's stock worth $3,106,000 after purchasing an additional 10,667 shares in the last quarter. Geode Capital Management LLC raised its holdings in BlackBerry by 263.2% in the second quarter. Geode Capital Management LLC now owns 1,167,739 shares of the company's stock worth $5,348,000 after purchasing an additional 846,208 shares in the last quarter. Creative Planning raised its holdings in BlackBerry by 87.5% in the second quarter. Creative Planning now owns 53,413 shares of the company's stock worth $245,000 after purchasing an additional 24,921 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in BlackBerry by 15.0% in the second quarter. Russell Investments Group Ltd. now owns 393,561 shares of the company's stock worth $1,804,000 after purchasing an additional 51,305 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of BlackBerry by 137.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,788,921 shares of the company's stock valued at $12,780,000 after acquiring an additional 1,612,465 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on BB. Royal Bank Of Canada restated a "sector perform" rating and issued a $4.50 price objective on shares of BlackBerry in a report on Friday, December 19th. Canaccord Genuity Group restated a "hold" rating and issued a $4.60 price objective on shares of BlackBerry in a report on Friday, December 19th. Weiss Ratings restated a "sell (d+)" rating on shares of BlackBerry in a report on Wednesday, March 25th. Wall Street Zen downgraded BlackBerry from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Finally, TD Securities upgraded BlackBerry to a "hold" rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, BlackBerry presently has a consensus rating of "Hold" and an average price target of $4.92.

BlackBerry Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.