Insider Selling: BlackBerry Limited (NYSE:BB) CEO Sells 26,998 Shares of Stock

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

BlackBerry Trading Up 1.7%

Shares of BlackBerry stock traded up $0.07 during trading hours on Friday, hitting $4.30. The company's stock had a trading volume of 12,837,670 shares, compared to its average volume of 14,505,934. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -71.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $6.24. The firm has a fifty day moving average of $4.03 and a 200-day moving average of $4.12.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $121.26 million for the quarter, compared to analyst estimates of $112.18 million. During the same period in the prior year, the business posted ($0.03) EPS. The business's revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current year.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC boosted its position in BlackBerry by 7.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,911,833 shares of the company's stock valued at $7,227,000 after buying an additional 131,833 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BlackBerry by 41.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock valued at $51,856,000 after acquiring an additional 4,039,483 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in BlackBerry by 36.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,781,820 shares of the company's stock valued at $6,735,000 after purchasing an additional 480,205 shares during the period. EdgePoint Investment Group Inc. grew its stake in BlackBerry by 2.5% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,224,473 shares of the company's stock worth $46,209,000 after purchasing an additional 301,678 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in BlackBerry during the 4th quarter worth $544,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.