Key Points
- BlackBerry CEO John Giamatteo sold 27,004 shares at an average price of $8.36, generating $225,753.44. He retained 792,494 shares, with the transaction reducing his ownership by 3.30%.
- BlackBerry’s latest quarterly results exceeded expectations, with earnings of $0.07 per share versus a $0.04 consensus estimate and revenue of $166.56 million, up 26% year over year.
- Analyst sentiment remains cautious: two analysts rate the stock a Buy and seven rate it a Hold, producing a consensus rating of Hold and an average price target of $9.86.
BlackBerry Limited (NYSE:BB - Get Free Report) SVP Jennifer Armstrong-Owen sold 3,379 shares of BlackBerry stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.36, for a total value of $28,248.44. Following the sale, the senior vice president owned 113,904 shares in the company, valued at $952,237.44. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Jennifer Armstrong-Owen also recently made the following trade(s):
- On Friday, October 2nd, Jennifer Armstrong-Owen sold 2,590 shares of BlackBerry stock. The stock was sold at an average price of $9.20, for a total value of $23,828.00.
BlackBerry Price Performance
BB opened at $8.48 on Wednesday. The stock has a fifty day simple moving average of $8.38 and a two-hundred day simple moving average of $7.87. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 49.71 and a beta of 2.20. BlackBerry Limited has a 12-month low of $3.12 and a 12-month high of $13.59.
BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The business had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same quarter last year, the firm posted $0.04 earnings per share. The company's revenue for the quarter was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Research analysts predict that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.
Institutional Investors Weigh In On BlackBerry
A number of institutional investors have recently made changes to their positions in BB. Renaissance Technologies LLC lifted its position in BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock valued at $11,488,000 after acquiring an additional 2,063,153 shares in the last quarter. Nwam LLC purchased a new stake in BlackBerry during the 2nd quarter valued at $7,070,000. Canada Pension Plan Investment Board bought a new stake in shares of BlackBerry in the 2nd quarter worth $20,798,000. Legal & General Group Plc bought a new stake in shares of BlackBerry in the 2nd quarter worth $480,710,000. Finally, Deepwater Asset Management LLC bought a new stake in shares of BlackBerry in the 2nd quarter worth $9,240,000. Hedge funds and other institutional investors own 54.48% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on BB. TD Securities reissued a "hold" rating and set a $8.00 price target on shares of BlackBerry in a research report on Friday, June 26th. Canadian Imperial Bank of Commerce upped their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the stock an "outperformer" rating in a report on Friday, June 26th. Zacks Research downgraded shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $9.00 target price on shares of BlackBerry in a research note on Monday, September 21st. Finally, TD lifted their target price on shares of BlackBerry from $5.00 to $8.00 and gave the company a "hold" rating in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.86.
Get Our Latest Research Report on BB
About BlackBerry
(
Get Free Report)
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.
Further Reading
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