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 completion of the sale, the chief executive officer now owns 490,761 shares of the company’s stock, valued at approximately $1,963,044. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 shares were sold at an average price of $3.68, for a total transaction of $573,399.20.

BlackBerry Stock Up 0.2 %

Shares of BB stock traded up $0.01 during trading hours on Wednesday, reaching $4.07. 22,024,251 shares of the stock were exchanged, compared to its average volume of 21,382,383. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.35. The business’s fifty day moving average is $2.89 and its two-hundred day moving average is $2.57. 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 firm has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30.

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

Hedge Funds Weigh In On BlackBerry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BB. Northwestern Mutual Wealth Management Co. lifted its stake in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Geode Capital Management LLC boosted its stake in BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after purchasing an additional 7,652 shares during the period. International Assets Investment Management LLC grew its position in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares during the last quarter. Signaturefd LLC increased its stake in BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the period. Finally, Creative Planning raised its holdings in shares of BlackBerry by 40.8% in the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after buying an additional 10,585 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BB shares. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group increased their price objective on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada lifted their target price on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the company 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of “Moderate Buy” and a consensus 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.