BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 27,004 Shares of Company Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 27,004 shares of the stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $225,753.44. Following the completion of the sale, the chief executive officer owned 792,494 shares of the company’s stock, valued at approximately $6,625,249.84. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, October 2nd, John Giamatteo sold 29,272 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total transaction of $269,302.40.

BlackBerry Price Performance

Shares of NYSE BB opened at $8.48 on Wednesday. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59. The stock’s 50 day moving average price is $8.38 and its 200-day moving average price is $7.87. The company has a market capitalization of $4.98 billion, a PE ratio of 49.71 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. BlackBerry’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current year.

Hedge Funds Weigh In On BlackBerry

Several institutional investors have recently bought and sold shares of BB. Legal & General Group Plc bought a new stake in shares of BlackBerry in the second quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in BlackBerry in the 2nd quarter worth approximately $69,786,000. Bank of America Corp DE bought a new position in BlackBerry in the 2nd quarter worth approximately $64,718,000. Renaissance Technologies LLC boosted its holdings in BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock worth $11,488,000 after buying an additional 2,063,153 shares during the period. Finally, BlackRock Inc. purchased a new position in BlackBerry in the 2nd quarter valued at approximately $42,002,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Securities reaffirmed a “hold” rating and set a $8.00 target price on shares of BlackBerry in a research report on Friday, June 26th. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research downgraded shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Canadian Imperial Bank of Commerce increased their price target on shares of BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a research report on Friday, June 26th. Finally, Stifel Nicolaus began coverage on shares of BlackBerry in a report on Wednesday, June 24th. They set a “buy” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BlackBerry currently has an average rating of “Hold” and a consensus target price of $9.86.

About BlackBerry

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.