BlackBerry Limited $BB Stake Cut by TD Asset Management Inc

Key Points

• TD Asset Management Inc has cut its stake in BlackBerry Limited by 58.9%, reducing its position to around 1.78 million shares worth approximately $8.19 million as of the end of Q2.
• BlackBerry reported earnings per share (EPS) of $0.04 for the latest quarter, surpassing estimates of $0.01, while revenue declined by 10.6% year-over-year to $130.96 million.
• In recent analyst updates, Zacks Research upgraded BlackBerry from a "hold" to a "strong-buy" rating, with a consensus target price of $5.10.

TD Asset Management Inc cut its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 58.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,785,998 shares of the company's stock after selling 2,563,649 shares during the quarter. TD Asset Management Inc owned 0.30% of BlackBerry worth $8,194,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new position in BlackBerry during the first quarter worth $37,000. OneDigital Investment Advisors LLC bought a new position in BlackBerry during the first quarter worth $40,000. LeConte Wealth Management LLC acquired a new stake in BlackBerry in the second quarter worth $61,000. Triasima Portfolio Management inc. acquired a new stake in BlackBerry in the second quarter worth $89,000. Finally, Ballentine Partners LLC increased its position in BlackBerry by 35.4% in the first quarter. Ballentine Partners LLC now owns 23,339 shares of the company's stock worth $88,000 after buying an additional 6,099 shares during the period. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Price Performance

NYSE:BB opened at $4.50 on Monday. The business's 50-day moving average price is $4.14 and its 200 day moving average price is $3.94. The firm has a market cap of $2.65 billion, a P/E ratio of -449.50 and a beta of 1.51. BlackBerry Limited has a 52-week low of $2.24 and a 52-week high of $6.24. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Thursday, September 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. BlackBerry had a positive return on equity of 6.07% and a negative net margin of 0.60%.The firm had revenue of $130.96 million for the quarter, compared to analyst estimates of $122.03 million. BlackBerry's revenue was down 10.6% on a year-over-year basis. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. As a group, sell-side analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insider Activity at BlackBerry

In other news, insider Philip S. Kurtz sold 44,178 shares of BlackBerry stock in a transaction dated Sunday, September 28th. The stock was sold at an average price of $4.95, for a total transaction of $218,681.10. Following the completion of the sale, the insider directly owned 95,468 shares in the company, valued at $472,566.60. The trade was a 31.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Joseph Giamatteo sold 28,343 shares of BlackBerry stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $4.62, for a total value of $130,944.66. Following the sale, the chief executive officer owned 568,164 shares of the company's stock, valued at approximately $2,624,917.68. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,565 shares of company stock worth $423,706 in the last quarter. 0.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BB. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Zacks Research raised BlackBerry from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 29th. Wall Street Zen raised BlackBerry from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. TD Securities lowered BlackBerry from a "buy" rating to a "hold" rating and increased their target price for the stock from $4.00 to $5.00 in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $4.60 target price on shares of BlackBerry in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BlackBerry has a consensus rating of "Hold" and a consensus target price of $5.10.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.

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