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 dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

BlackBerry Stock Down 0.5 %

Shares of BlackBerry stock opened at $4.07 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12-month low of $2.01 and a 12-month 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’s fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $2.57.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 company earned $0.01 earnings per share. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. Research analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new stake in BlackBerry in the second quarter worth $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of BlackBerry by 83.3% during the 2nd 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 in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry in the 3rd quarter worth about $38,000. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry in the 2nd quarter worth about $43,000. Finally, Signaturefd LLC lifted its position in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the period. Institutional investors own 54.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BB. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Canaccord Genuity Group increased their price objective on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Royal Bank of Canada increased their price target on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BlackBerry has an average rating of “Moderate Buy” and a consensus price target of $3.60.

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.