BlackBerry Limited $BB Stock: Counterpoint Mutual Funds LLC Grows Holdings

Key Points

• Counterpoint Mutual Funds more than doubled its BlackBerry position in the third quarter, adding 652,558 shares to hold 1.28 million shares valued at approximately $11.6 million. Institutional investors collectively own 54.48% of the company.
• BlackBerry reported quarterly earnings of $0.07 per share, exceeding the $0.04 consensus estimate, while revenue of $166.6 million surpassed expectations and increased 26% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $9.86, while BlackBerry shares opened at $8.05 after a reported 7.5% decline. The CEO and CFO also sold shares, contributing to $1.2 million in insider sales over the past 90 days.

Counterpoint Mutual Funds LLC boosted its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 103.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,282,610 shares of the company's stock after buying an additional 652,558 shares during the period. BlackBerry accounts for approximately 1.0% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 8th biggest holding. Counterpoint Mutual Funds LLC owned about 0.22% of BlackBerry worth $11,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BB. Vontobel Holding Ltd. purchased a new stake in BlackBerry during the third quarter worth about $861,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of BlackBerry in the third quarter valued at about $28,000. Triasima Portfolio Management inc. acquired a new position in shares of BlackBerry during the 3rd quarter worth approximately $814,000. Loftus Peak Pty Ltd purchased a new position in BlackBerry during the third quarter worth $16,158,000. Finally, The Manufacturers Life Insurance Company increased its position in BlackBerry by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company's stock worth $6,673,000 after buying an additional 40,350 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BB shares. Zacks Research cut shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Stifel Nicolaus started coverage on shares of BlackBerry in a research report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 target price on the stock. Canadian Imperial Bank of Commerce upped their price target on BlackBerry from $10.00 to $13.00 and gave the stock an "outperformer" rating in a research note on Friday, June 26th. Raymond James Financial boosted their target price on BlackBerry from $4.75 to $9.50 and gave the stock a "market perform" rating in a report on Friday, June 26th. Finally, TD lifted their target price on shares of BlackBerry from $5.00 to $8.00 and gave the company a "hold" rating in a report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.86.

BlackBerry Trading Down 7.5%

NYSE:BB opened at $8.05 on Friday. The business has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $7.95. The firm has a market capitalization of $4.73 billion, a P/E ratio of 67.08 and a beta of 2.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. BlackBerry Limited has a 12-month low of $3.12 and a 12-month high of $13.59.

BlackBerry (NYSE:BB - Get Free Report) 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 firm had revenue of $166.56 million for the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. 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 year.

Insiders Place Their Bets

In other news, CEO John Giamatteo sold 27,004 shares of the company's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $225,753.44. Following the completion of the sale, the chief executive officer owned 792,494 shares in the company, valued at approximately $6,625,249.84. This represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tim Foote sold 8,441 shares of the company's stock in a transaction on Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $70,566.76. Following the sale, the chief financial officer directly owned 71,616 shares of the company's stock, valued at approximately $598,709.76. This represents a 10.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 134,433 shares of company stock valued at $1,196,595 over the last ninety days. Insiders own 0.51% of the company's stock.

About BlackBerry

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.

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