Russell Investments Group Ltd. Decreases Stake in BlackBerry Limited $BB

Key Points

• Russell Investments Group Ltd. significantly reduced its holdings in BlackBerry Limited by 64.1%, leading to ownership of approximately 342,256 shares worth $1.29 million as of the latest SEC filing.
• Other institutional investors, including Vanguard Group and Bank of America Corp DE, have increased their positions, with Vanguard now owning over 23 million shares valued at nearly $87 million.
• BlackBerry's earnings report revealed a $0.02 EPS, exceeding expectations, despite a 15.5% decline in revenue year-over-year, alongside earnings guidance suggesting limited growth in the near future.

Russell Investments Group Ltd. decreased its holdings in BlackBerry Limited (NYSE:BB - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,256 shares of the company's stock after selling 612,141 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of BlackBerry worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BB. Connor Clark & Lunn Investment Management Ltd. boosted its position in BlackBerry by 69.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock valued at $87,064,000 after acquiring an additional 9,442,676 shares during the last quarter. Two Sigma Investments LP boosted its position in BlackBerry by 293.7% during the fourth quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company's stock valued at $17,207,000 after acquiring an additional 3,395,786 shares during the last quarter. TD Asset Management Inc boosted its position in BlackBerry by 163.7% during the first quarter. TD Asset Management Inc now owns 4,349,647 shares of the company's stock valued at $16,380,000 after acquiring an additional 2,700,319 shares during the last quarter. Bank of America Corp DE boosted its position in BlackBerry by 50.4% during the fourth quarter. Bank of America Corp DE now owns 4,569,019 shares of the company's stock valued at $17,271,000 after acquiring an additional 1,530,263 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in BlackBerry during the fourth quarter valued at $2,938,000. Institutional investors own 54.48% of the company's stock.

BlackBerry Stock Down 1.4%

Shares of BB stock traded down $0.06 on Tuesday, reaching $3.78. 6,782,535 shares of the company were exchanged, compared to its average volume of 6,444,006. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10. BlackBerry Limited has a one year low of $2.22 and a one year high of $6.24. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -62.92 and a beta of 1.49. The company has a 50-day moving average of $3.94 and a 200-day moving average of $3.99.

BlackBerry (NYSE:BB - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The company had revenue of $121.26 million for the quarter, compared to analyst estimates of $112.18 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm's revenue was down 15.5% compared to the same quarter last year. BlackBerry has set its Q2 2026 guidance at 0.000-0.010 EPS. FY 2026 guidance at 0.080-0.100 EPS. Analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BB. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, June 20th. Robert W. Baird increased their price objective on shares of BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Canaccord Genuity Group increased their price objective on shares of BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of BlackBerry from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, BlackBerry currently has a consensus rating of "Moderate Buy" and an average target price of $4.60.

Insider Transactions at BlackBerry

In related news, CEO John Joseph Giamatteo sold 26,998 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total value of $116,631.36. Following the sale, the chief executive officer owned 530,135 shares in the company, valued at $2,290,183.20. This represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philip S. Kurtz sold 16,217 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the sale, the insider owned 57,503 shares in the company, valued at $301,890.75. This represents a 22.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,417 shares of company stock worth $267,524 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

About BlackBerry

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.