247,523 Shares of BlackBerry Limited $BB Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new stake in BlackBerry Limited (NYSE:BB) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 247,523 shares of the company’s stock, valued at approximately $2,238,000.

Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of BlackBerry in the 2nd quarter worth approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of BlackBerry in the second quarter valued at $69,786,000. Bank of America Corp DE acquired a new position in shares of BlackBerry in the second quarter valued at $64,718,000. Renaissance Technologies LLC raised its stake in shares of BlackBerry by 139.2% in the first quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock valued at $11,488,000 after purchasing an additional 2,063,153 shares in the last quarter. Finally, BlackRock Inc. bought a new position in BlackBerry in the second quarter worth $42,002,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Down 8.2%

NYSE BB opened at $8.44 on Friday. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 70.29 and a beta of 2.20. The stock’s 50 day moving average is $8.42 and its two-hundred day moving average is $6.85. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $144.22 million. During the same period in the prior year, the firm posted $0.04 EPS. BlackBerry’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. Equities analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackBerry news, CFO Tim Foote sold 8,441 shares of the company’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $8.36, for a total value of $70,566.76. Following the sale, the chief financial officer directly owned 71,616 shares in the company, valued at $598,709.76. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Christopher Wall sold 3,474 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $9.18, for a total value of $31,891.32. Following the completion of the sale, the insider owned 13,924 shares in the company, valued at $127,822.32. This trade represents a 19.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 384,433 shares of company stock worth $3,481,255 over the last quarter. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

BB has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 price target on shares of BlackBerry in a research note on Monday, September 21st. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research note on Friday, September 25th. Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Weiss Ratings raised shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. Finally, Zacks Research downgraded shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.86.

BlackBerry Profile

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.