BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 71,057 Shares of BlackBerry Limited $BB

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in BlackBerry Limited by 7.0% during the first quarter, owning 1,086,634 shares worth approximately $4.09 million.
• Several hedge funds have significantly boosted their positions in BlackBerry, including Connor Clark & Lunn Investment Management with a 69.1% increase and Two Sigma Investments LP with a 293.7% increase.
• BlackBerry reported earnings of $0.02 EPS, surpassing expectations, but its revenue fell 15.5% year-over-year to $121.26 million.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,086,634 shares of the company's stock after buying an additional 71,057 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.18% of BlackBerry worth $4,093,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BB. Parallel Advisors LLC boosted its holdings in shares of BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after buying an additional 4,893 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after buying an additional 3,811 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of BlackBerry during the 1st quarter worth about $37,000. OneDigital Investment Advisors LLC bought a new stake in BlackBerry in the 1st quarter valued at about $40,000. Finally, Benjamin Edwards Inc. bought a new stake in BlackBerry in the 4th quarter valued at about $42,000. Institutional investors own 54.48% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at BlackBerry

In related news, insider Philip S. Kurtz sold 16,217 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total transaction of $85,139.25. Following the transaction, the insider directly owned 57,503 shares of the company's stock, valued at $301,890.75. This represents a 22.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the transaction, the chief executive officer directly owned 530,135 shares in the company, valued at approximately $2,290,183.20. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,417 shares of company stock worth $267,524. 0.37% of the stock is owned by insiders.

BlackBerry Trading Up 0.1%

Shares of NYSE:BB traded up $0.01 during trading on Friday, reaching $3.84. The stock had a trading volume of 11,300,769 shares, compared to its average volume of 17,051,563. The firm's fifty day moving average is $3.97 and its 200 day moving average is $4.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10. BlackBerry Limited has a 52 week low of $2.22 and a 52 week high of $6.24. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -63.92 and a beta of 1.49.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, beating 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 period in the prior year, the firm posted ($0.03) EPS. The company's quarterly revenue was down 15.5% on a year-over-year basis. BlackBerry has set its Q2 2026 guidance at 0.000-0.010 EPS. FY 2026 guidance at 0.080-0.100 EPS. As a group, equities analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

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.