Goldman Sachs Group Inc. Sells 873,024 Shares of BlackBerry Limited $BB

Key Points

• Goldman Sachs Group Inc. reduced its holdings in BlackBerry Limited by 30.9%, owning approximately 0.33% of the company valued at $7.37 million after selling 873,024 shares.
• BlackBerry's revenue for the last quarter was $121.26 million, exceeding analyst estimates, although it represented a 15.5% decline compared to the same quarter last year.
• Analysts have set a consensus price target for BlackBerry at $4.60, with ratings ranging from "buy" to "hold" by various firms, reflecting mixed market sentiment.

Goldman Sachs Group Inc. reduced its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,955,636 shares of the company's stock after selling 873,024 shares during the period. Goldman Sachs Group Inc. owned 0.33% of BlackBerry worth $7,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in shares of BlackBerry by 10.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock valued at $145,000 after acquiring an additional 3,755 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of BlackBerry by 16.7% during the 1st quarter. Hsbc Holdings PLC now owns 31,641 shares of the company's stock valued at $119,000 after acquiring an additional 4,525 shares in the last quarter. Parallel Advisors LLC grew 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 valued at $27,000 after acquiring an additional 4,893 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of BlackBerry by 19.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 30,538 shares of the company's stock valued at $115,000 after acquiring an additional 4,976 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of BlackBerry by 35.4% during the 1st quarter. Ballentine Partners LLC now owns 23,339 shares of the company's stock valued at $88,000 after acquiring an additional 6,099 shares in the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

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

BlackBerry Stock Performance

BlackBerry stock traded up $0.01 on Friday, reaching $4.21. 3,226,702 shares of the stock were exchanged, compared to its average volume of 16,215,928. The stock has a market cap of $2.48 billion, a PE ratio of -70.08 and a beta of 1.49. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a twelve month low of $2.24 and a twelve month high of $6.24. The firm has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.88.

BlackBerry (NYSE:BB - Get Free Report) last released 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 firm had revenue of $121.26 million during the quarter, compared to analyst estimates of $112.18 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The business's 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. Sell-side analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current year.

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.