John Joseph Giamatteo Sells 155,815 Shares of BlackBerry Limited (NYSE:BB) Stock

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

BlackBerry Stock Performance

BB traded up $0.41 on Monday, reaching $4.09. The company had a trading volume of 26,316,168 shares, compared to its average volume of 20,687,771. The stock has a 50-day moving average price of $2.82 and a 200-day moving average price of $2.54. The stock has a market capitalization of $2.42 billion, a PE ratio of -16.36 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 Limited has a 1 year low of $2.01 and a 1 year high of $4.11.

BlackBerry (NYSE:BB) last announced its 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 return on equity of 3.38% and a negative net margin of 21.66%. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue was down 5.9% on a year-over-year basis. As a group, research analysts forecast that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BB. Robert W. Baird upped their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. CIBC increased their price objective 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. Canaccord Genuity Group lifted their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada upped their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research report on Tuesday, December 17th. Finally, TD Securities upgraded 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 research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BlackBerry has a consensus rating of “Moderate Buy” and an average target price of $3.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in 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 purchasing an additional 5,349 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 period. Signaturefd LLC increased its holdings in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.