Bank of America Corp DE Cuts Stock Position in BlackBerry Limited $BB

Bank of America Corp DE cut its position in BlackBerry Limited (NYSE:BB - Free Report) by 45.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,266,986 shares of the company's stock after selling 2,723,146 shares during the quarter. Bank of America Corp DE owned approximately 0.56% of BlackBerry worth $10,585,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC bought a new position in shares of BlackBerry during the 1st quarter worth approximately $34,000. Bank of New York Mellon Corp purchased a new stake in BlackBerry during the first quarter valued at approximately $37,000. Portfolio Resources Advisor Group Inc. acquired a new stake in BlackBerry in the fourth quarter valued at approximately $46,000. Apella Capital LLC acquired a new stake in BlackBerry in the first quarter valued at approximately $47,000. Finally, Chicago Partners Investment Group LLC grew its holdings in BlackBerry by 50.0% in the first quarter. Chicago Partners Investment Group LLC now owns 15,000 shares of the company's stock worth $49,000 after purchasing an additional 5,000 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, CEO John Joseph Giamatteo sold 152,012 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 687,246 shares of the company's stock, valued at approximately $7,800,242.10. This trade represents a 18.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philip S. Kurtz sold 6,414 shares of BlackBerry stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $11.07, for a total transaction of $71,002.98. Following the sale, the insider owned 125,158 shares of the company's stock, valued at approximately $1,385,499.06. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 355,858 shares of company stock worth $4,012,270 in the last 90 days. Corporate insiders own 0.51% of the company's stock.

BlackBerry Stock Up 0.1%

BlackBerry stock opened at $8.05 on Monday. 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 business's 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $6.61. The company has a market cap of $4.73 billion, a PE ratio of 89.45 and a beta of 2.25. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data 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. BlackBerry had a return on equity of 11.66% and a net margin of 10.31%.The business had revenue of $152.90 million for the quarter, compared to analyst estimates of $136.10 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company's revenue was up 25.6% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. Equities analysts anticipate that BlackBerry Limited will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

BB has been the subject of several analyst reports. Raymond James Financial increased their price objective on BlackBerry from $4.75 to $9.50 and gave the company a "market perform" rating in a report on Friday, June 26th. TD boosted their target price on BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. Canaccord Genuity Group upped their target price on BlackBerry from $8.20 to $10.30 and gave the company a "hold" rating in a research report on Friday, June 26th. Canadian Imperial Bank of Commerce increased their price target on BlackBerry from $10.00 to $13.00 and gave the company an "outperformer" rating in a research note on Friday, June 26th. Finally, Royal Bank Of Canada increased their price target on BlackBerry from $4.50 to $9.00 and gave the company a "sector perform" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, BlackBerry has a consensus rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source