BlackBerry Limited (NYSE:BB) CEO Sells $117,608.00 in Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 29,402 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the sale, the chief executive officer now directly owns 490,761 shares of the company’s stock, valued at approximately $1,963,044. This represents a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, January 2nd, John Joseph Giamatteo sold 155,815 shares of BlackBerry stock. The stock was sold at an average price of $3.68, for a total transaction of $573,399.20.

BlackBerry Stock Performance

Shares of BB opened at $4.07 on Friday. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.35. The stock has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The company’s fifty day moving average is $2.92 and its two-hundred day moving average is $2.58.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period in the previous year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, sell-side analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the business. Intact Investment Management Inc. grew its holdings in BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of BlackBerry during the third quarter worth approximately $1,285,000. State Street Corp lifted its position in shares of BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after purchasing an additional 24,309 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in BlackBerry by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after purchasing an additional 488,934 shares during the period. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BB has been the topic of several recent analyst reports. CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird increased their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Royal Bank of Canada increased their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Finally, Canaccord Genuity Group boosted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3.60.

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.