BlackBerry (NYSE:BB) CEO John Joseph Giamatteo Sells 27,004 Shares of Company Stock

BlackBerry Limited (NYSE:BB) CEO John Giamatteo sold 27,004 shares of BlackBerry stock in a transaction on Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $225,753.44. Following the transaction, the chief executive officer directly owned 792,494 shares in the company, valued at $6,625,249.84. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 2nd, John Giamatteo sold 29,272 shares of BlackBerry stock. The shares were sold at an average price of $9.20, for a total transaction of $269,302.40.

BlackBerry Stock Up 0.3%

BlackBerry stock traded up $0.03 during midday trading on Tuesday, hitting $8.48. 9,432,002 shares of the stock were exchanged, compared to its average volume of 18,444,422. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 70.63 and a beta of 2.20. The business’s 50-day moving average price is $8.38 and its 200-day moving average price is $7.84. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The firm had revenue of $166.56 million for the quarter, compared to analysts’ expectations of $144.22 million. During the same quarter last year, the firm earned $0.04 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, research analysts expect that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Stifel Nicolaus began coverage on BlackBerry in a research note on Wednesday, June 24th. They set a “buy” rating and a $12.00 target price on the stock. TD Securities restated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a report on Friday, June 26th. Raymond James Financial raised their price objective on shares of BlackBerry from $4.75 to $9.50 and gave the stock a “market perform” rating in a report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.86.

Institutional Trading of BlackBerry

A number of large investors have recently bought and sold shares of BB. Legal & General Group Plc bought a new stake in BlackBerry in the 2nd quarter valued at about $480,710,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in BlackBerry during the second quarter valued at about $69,786,000. Bank of America Corp DE bought a new position in BlackBerry during the second quarter worth about $64,718,000. BlackRock Inc. bought a new position in BlackBerry during the second quarter worth about $42,002,000. Finally, Primecap Management Co. CA purchased a new position in shares of BlackBerry in the second quarter worth about $36,362,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.