Insider Selling: BlackBerry Limited (NYSE:BB) CEO Sells 155,815 Shares of Stock

BlackBerry Limited (NYSE:BB) CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares of the company’s stock, valued at $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

BlackBerry Stock Up 11.1 %

Shares of NYSE BB opened at $4.09 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.42 billion, a PE ratio of -16.36 and a beta of 1.30. The company’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $2.56. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.11.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $0.01 EPS. The business’s revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds have recently added to or reduced their stakes in BB. Barclays PLC lifted its holdings in shares of BlackBerry by 60.2% in the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after purchasing an additional 93,651 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of BlackBerry by 5.3% in the third quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after buying an additional 36,372 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after buying an additional 7,652 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of BlackBerry during the third quarter worth about $410,000. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of BlackBerry by 121.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after acquiring an additional 20,771 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BB. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Royal Bank of Canada upped their price target on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday, December 17th. Finally, TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.