BlackBerry (NYSE:BB) CEO Sells $269,302.40 in Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 29,272 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $269,302.40. Following the transaction, the chief executive officer directly owned 758,416 shares of the company’s stock, valued at approximately $6,977,427.20. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, July 9th, John Giamatteo sold 152,012 shares of BlackBerry stock. The stock was sold at an average price of $11.35, for a total value of $1,725,336.20.
• On Wednesday, July 8th, John Giamatteo sold 125,000 shares of BlackBerry stock. The shares were sold at an average price of $11.00, for a total value of $1,375,000.00.

BlackBerry Stock Down 8.4%

BB stock opened at $8.78 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 73.12 and a beta of 2.20. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The stock has a fifty day moving average of $8.37 and a 200-day moving average of $7.72.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping 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%.The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, equities research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BB. Legal & General Group Plc purchased a new stake in shares of BlackBerry in the second quarter worth $480,710,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in BlackBerry during the second quarter worth about $69,786,000. Bank of America Corp DE purchased a new position in BlackBerry during the second quarter worth about $64,718,000. Renaissance Technologies LLC increased its stake 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 acquiring an additional 2,063,153 shares during the last quarter. Finally, BlackRock Inc. bought a new position in BlackBerry in the 2nd quarter worth about $42,002,000. 54.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BB. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Canadian Imperial Bank of Commerce lifted their price target on BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a research report on Friday, June 26th. TD boosted their price objective on BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.86.

BlackBerry Company Profile

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.