BlackBerry Limited $BB Stock: M&G PLC Grows Position

M&G PLC lifted its holdings in BlackBerry Limited (NYSE:BB) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,608,963 shares of the company’s stock after buying an additional 157,424 shares during the quarter. M&G PLC’s holdings in BlackBerry were worth $14,481,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of BlackBerry during the 2nd quarter valued at $480,710,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in BlackBerry during the 2nd quarter worth $69,786,000. Bank of America Corp DE acquired a new stake in BlackBerry in the 2nd quarter valued at $64,718,000. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 2,063,153 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in BlackBerry in the 2nd quarter valued at $42,002,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Canaccord Genuity Group reduced their price objective on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th. Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 target price on shares of BlackBerry in a report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.86.

Insider Activity

In other news, Director David Chaikof acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was bought at an average cost of $8.18 per share, with a total value of $40,900.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $40,900. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Giamatteo sold 151,000 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $9.40, for a total value of $1,419,400.00. Following the sale, the chief executive officer owned 641,494 shares of the company’s stock, valued at $6,030,043.60. This represents a 19.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 384,433 shares of company stock worth $3,481,255. 0.51% of the stock is owned by corporate insiders.

BlackBerry Trading Down 0.9%

NYSE BB opened at $9.14 on Wednesday. The company’s fifty day simple moving average is $8.50 and its 200-day simple moving average is $7.01. BlackBerry Limited has a 52 week low of $3.12 and a 52 week high of $13.59. 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 stock has a market cap of $5.35 billion, a P/E ratio of 76.17 and a beta of 2.23.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. 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 research analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

BlackBerry Company Profile

BlackBerry Limited is a Canadian software company that provides cybersecurity and secure communications products, as well as embedded software for vehicles and other connected systems. The company serves businesses, government agencies and organizations around the world. Its cybersecurity and communications offerings include endpoint protection, device and identity management, secure messaging, and crisis communications. BlackBerry also develops QNX software, an embedded operating system and development platform used in automotive systems and other safety-critical applications.