BlackBerry Limited $BB Shares Newly Bought by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments acquired 762,100 BlackBerry shares during the third quarter, worth approximately $6.9 million and representing about 0.13% of the company. Institutional investors and hedge funds collectively own 54.48% of BlackBerry.
• Analyst sentiment remains cautious: BlackBerry has an average “Hold” rating, with two Buy ratings and seven Holds, and an average price target of $9.86.
• BlackBerry exceeded quarterly expectations, reporting $0.07 in earnings per share versus a $0.04 estimate and $166.56 million in revenue, up 26% year over year. Meanwhile, insiders sold 134,433 shares worth about $1.2 million during the last quarter.

Louisbourg Investments Inc. bought a new stake in shares of BlackBerry Limited (NYSE:BB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 762,100 shares of the company's stock, valued at approximately $6,897,000. Louisbourg Investments Inc. owned approximately 0.13% of BlackBerry at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Pension & Wealth Management Advisors Inc. acquired a new position in shares of BlackBerry in the third quarter worth about $28,000. CoreCap Advisors LLC purchased a new position in BlackBerry in the second quarter valued at about $31,000. Integrated Wealth Concepts LLC purchased a new position in BlackBerry in the second quarter valued at about $31,000. Elevation Wealth Partners LLC purchased a new position in BlackBerry in the second quarter valued at about $32,000. Finally, Wealthfront Advisers LLC acquired a new stake in BlackBerry during the 1st quarter valued at approximately $34,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BB. Canaccord Genuity Group dropped their price objective on BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a report on Friday, September 25th. TD Securities reaffirmed a "hold" rating and issued a $8.00 target price on shares of BlackBerry in a research report on Friday, June 26th. Stifel Nicolaus began coverage on BlackBerry in a research note on Wednesday, June 24th. They set a "buy" rating and a $12.00 target price for the company. Royal Bank Of Canada reiterated 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 raised their price target on shares of BlackBerry from $5.00 to $8.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, BlackBerry currently has an average rating of "Hold" and an average target price of $9.86.

BlackBerry Stock Performance

Shares of BB stock opened at $8.86 on Wednesday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 73.85 and a beta of 2.20. BlackBerry Limited has a one year low of $3.12 and a one year high of $13.59. The company's 50-day simple moving average is $8.33 and its 200-day simple moving average is $8.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data 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. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The firm had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same period in the previous year, the company earned $0.04 earnings per share. BlackBerry's quarterly revenue 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. Equities analysts anticipate that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Christopher Wall sold 3,474 shares of BlackBerry stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $9.18, for a total value of $31,891.32. Following the completion of the transaction, the insider owned 13,924 shares in the company, valued at approximately $127,822.32. This trade represents a 19.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jennifer Armstrong-Owen sold 3,379 shares of the business's 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 completion of the sale, the senior vice president owned 113,904 shares of the company's stock, valued at $952,237.44. This trade represents a 2.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 134,433 shares of company stock worth $1,196,595. 0.51% of the stock is currently owned by insiders.

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.

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