730,450 Shares in BlackBerry Limited $BB Acquired by Deepwater Asset Management LLC

Key Points

• Deepwater Asset Management acquired 730,450 BlackBerry shares worth approximately $9.24 million, making the stock its fifth-largest holding and representing about 4.2% of its portfolio.
• BlackBerry reported stronger-than-expected quarterly results, with $152.9 million in revenue, up 25.6% year over year, and earnings of $0.04 per share versus analysts’ $0.03 estimate.
• Insiders sold 355,858 shares worth roughly $4.01 million over the past quarter, while Wall Street’s overall rating remains “Hold” with an average price target of $8.92.

Deepwater Asset Management LLC bought a new position in shares of BlackBerry Limited (NYSE:BB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 730,450 shares of the company's stock, valued at approximately $9,240,000. BlackBerry accounts for approximately 4.2% of Deepwater Asset Management LLC's holdings, making the stock its 5th largest position. Deepwater Asset Management LLC owned approximately 0.12% of BlackBerry as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in shares of BlackBerry during the second quarter worth $31,000. Elevation Wealth Partners LLC acquired a new position in BlackBerry in the 2nd quarter worth $32,000. Wealthfront Advisers LLC acquired a new position in BlackBerry in the 1st quarter worth $34,000. Bank of New York Mellon Corp bought a new position in BlackBerry during the 1st quarter worth about $37,000. Finally, Portfolio Resources Advisor Group Inc. acquired a new stake in shares of BlackBerry in the 4th quarter valued at about $46,000. Institutional investors own 54.48% of the company's stock.

Insider Activity

In other news, insider Philip S. Kurtz sold 6,414 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $11.07, for a total value of $71,002.98. Following the sale, the insider directly owned 125,158 shares of the company's stock, valued at approximately $1,385,499.06. This represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Joseph Giamatteo sold 152,012 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $11.35, for a total transaction of $1,725,336.20. Following the completion of the sale, the chief executive officer owned 687,246 shares of the company's stock, valued at $7,800,242.10. This trade represents a 18.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 355,858 shares of company stock valued at $4,012,270 over the last quarter. 0.51% of the stock is currently owned by company insiders.

BlackBerry Price Performance

NYSE:BB opened at $8.57 on Wednesday. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59. The company has a market cap of $5.03 billion, a P/E ratio of 95.29 and a beta of 2.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.20 and a current ratio of 2.20. The stock's 50-day simple moving average is $9.55 and its 200 day simple moving average is $6.51.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $152.90 million during the quarter, compared to the consensus estimate of $136.10 million. BlackBerry had a return on equity of 11.66% and a net margin of 10.31%.The business's revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. As a group, sell-side analysts forecast that BlackBerry Limited will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BB has been the topic of a number of research reports. TD Securities restated a "hold" rating and issued a $8.00 price target on shares of BlackBerry in a report on Friday, June 26th. TD lifted their target price on BlackBerry from $5.00 to $8.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Stifel Nicolaus assumed coverage on BlackBerry in a research note on Wednesday, June 24th. They issued a "buy" rating and a $12.00 target price on the stock. Zacks Research raised BlackBerry from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their price target on shares of BlackBerry from $4.50 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.92.

About BlackBerry

BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry's core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.

At the heart of BlackBerry's offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.

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