Insider Selling: BlackBerry Limited (NYSE:BB) CEO Sells 29,402 Shares of Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 29,402 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction 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 trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 $4.07 on Thursday. The business’s 50 day moving average price is $2.89 and its 200-day moving average price is $2.57. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.35. The company has a market cap 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.

BlackBerry (NYSE:BB) last posted its quarterly earnings data 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 net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. Sell-side analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BB shares. Robert W. Baird upped their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. Finally, CIBC increased their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six investment 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.60.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BB. TD Asset Management Inc boosted its stake in shares of BlackBerry by 1.4% during the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after purchasing an additional 21,259 shares during the period. Headlands Technologies LLC lifted its holdings in BlackBerry by 141.4% during the 2nd quarter. Headlands Technologies LLC now owns 806,729 shares of the company’s stock valued at $2,001,000 after buying an additional 472,577 shares in the last quarter. Virtu Financial LLC boosted its position in BlackBerry by 911.4% in the 2nd quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock valued at $920,000 after buying an additional 334,466 shares during the period. Marathon Trading Investment Management LLC bought a new position in BlackBerry in the 2nd quarter worth about $169,000. Finally, XTX Topco Ltd bought a new stake in shares of BlackBerry during the second quarter valued at approximately $396,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.