Insider Selling: BlackBerry Limited (NYSE:BB) CEO Sells $573,399.20 in Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares in the company, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, January 6th, John Joseph Giamatteo sold 29,402 shares of BlackBerry stock. The shares were sold at an average price of $4.00, for a total value of $117,608.00.

BlackBerry Trading Up 0.2 %

Shares of BB opened at $4.07 on Thursday. The firm has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.57. BlackBerry Limited has a twelve month low of $2.01 and a twelve month 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 quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

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

Hedge Funds Weigh In On BlackBerry

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after acquiring an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of BlackBerry by 15.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock worth $31,238,000 after purchasing an additional 1,637,916 shares during the period. Potrero Capital Research LLC bought a new stake in shares of BlackBerry during the 3rd quarter valued at about $2,359,000. Cubist Systematic Strategies LLC increased its position in shares of BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after buying an additional 488,934 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in BlackBerry in the third quarter worth about $1,285,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BB has been the subject of a number of research reports. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Canaccord Genuity Group upped their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. CIBC lifted their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday, December 17th. Finally, TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.