BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo Sells 26,998 Shares

BlackBerry Limited (NYSE:BB - Get Free Report) CEO John Joseph Giamatteo sold 26,998 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the transaction, the chief executive officer owned 530,135 shares of the company's stock, valued at approximately $2,290,183.20. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

BlackBerry Stock Performance

NYSE BB traded up $0.07 during trading hours on Friday, hitting $4.30. 12,837,670 shares of the stock were exchanged, compared to its average volume of 14,477,569. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -71.67 and a beta of 1.47. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24. The stock has a 50-day moving average of $4.03 and a 200 day moving average of $4.11. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The company had revenue of $121.26 million during the quarter, compared to analysts' expectations of $112.18 million. During the same period last year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was down 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

BB has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, June 20th. Robert W. Baird upped their target price on shares of BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a report on Tuesday, June 24th. Canaccord Genuity Group upped their target price on shares of BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of BlackBerry from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in BlackBerry by 216.2% during the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after acquiring an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after acquiring an additional 3,811 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in BlackBerry during the first quarter worth approximately $37,000. Mindset Wealth Management LLC purchased a new stake in shares of BlackBerry during the 4th quarter valued at $38,000. Finally, Quadrant Capital Group LLC grew its stake in shares of BlackBerry by 100.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after buying an additional 5,008 shares during the period. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Company Profile

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.