Insider Selling: 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 company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 490,761 shares in the company, valued at $1,963,044. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $573,399.20.

BlackBerry Stock Performance

NYSE:BB opened at $4.05 on Friday. The business’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $2.59. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $2.40 billion, a PE ratio of -16.20 and a beta of 1.30.

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

Analysts Set New Price Targets

Several brokerages have recently commented on BB. 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 report on Thursday, October 17th. Royal Bank of Canada increased their price target on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Canaccord Genuity Group boosted their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.69.

Institutional Trading of BlackBerry

Several hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new position in shares of BlackBerry during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of BlackBerry in the third quarter valued at approximately $38,000. Signaturefd LLC lifted its position in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares in the last quarter. Finally, Creative Planning boosted its holdings in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after purchasing an additional 10,585 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.