Legal & General Group Plc Reduces Holdings in BlackBerry Limited $BB

Key Points

• Legal & General Group Plc trimmed its BlackBerry position by 3.5% in Q3, selling 1,145,637 shares and retaining 31,870,198 shares (about 5.40% of the company) valued at roughly $155.5 million.
• Insider selling was notable: CEO John Giamatteo sold 231,765 shares (a 27.89% reduction) and Philip S. Kurtz sold 11,121 shares on Jan 2, part of 364,881 insider shares sold in the past 90 days.
• Market and results snapshot: BlackBerry beat Q results on EPS ($0.05 vs. $0.04) though revenue fell 1.3% year-over-year, the stock is down ~2.4% trading near $3.42, and analysts have a consensus "Hold" rating with a $5.10 target.

Legal & General Group Plc reduced its position in BlackBerry Limited (NYSE:BB - Free Report) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,870,198 shares of the company's stock after selling 1,145,637 shares during the period. Legal & General Group Plc owned approximately 5.40% of BlackBerry worth $155,526,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BB. CI Investments Inc. grew its stake in shares of BlackBerry by 48.4% during the third quarter. CI Investments Inc. now owns 8,414 shares of the company's stock valued at $41,000 after acquiring an additional 2,745 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of BlackBerry by 31.5% in the second quarter. Benjamin Edwards Inc. now owns 14,600 shares of the company's stock worth $67,000 after acquiring an additional 3,500 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of BlackBerry in the second quarter worth about $71,000. Flow Traders U.S. LLC purchased a new position in BlackBerry in the second quarter valued at about $86,000. Finally, LeConte Wealth Management LLC grew its stake in BlackBerry by 46.4% during the 3rd quarter. LeConte Wealth Management LLC now owns 19,461 shares of the company's stock valued at $95,000 after purchasing an additional 6,166 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Down 2.4%

Shares of BlackBerry stock opened at $3.42 on Friday. The business has a 50-day moving average price of $3.61 and a 200 day moving average price of $4.06. BlackBerry Limited has a fifty-two week low of $2.80 and a fifty-two week high of $5.32. The firm has a market cap of $2.02 billion, a P/E ratio of 113.87 and a beta of 1.67. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.26.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Thursday, December 18th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The company had revenue of $141.80 million for the quarter, compared to the consensus estimate of $137.54 million. BlackBerry had a return on equity of 8.05% and a net margin of 4.02%.BlackBerry's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. BlackBerry has set its FY 2026 guidance at 0.140-0.160 EPS and its Q4 2026 guidance at 0.030-0.050 EPS. On average, sell-side analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip S. Kurtz sold 11,121 shares of the firm's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3.89, for a total transaction of $43,260.69. Following the transaction, the insider directly owned 110,096 shares in the company, valued at $428,273.44. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Joseph Giamatteo sold 231,765 shares of BlackBerry stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3.82, for a total transaction of $885,342.30. Following the completion of the transaction, the chief executive officer directly owned 599,251 shares of the company's stock, valued at approximately $2,289,138.82. This represents a 27.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 364,881 shares of company stock worth $1,400,034 over the last ninety days. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded BlackBerry from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $4.50 target price on shares of BlackBerry in a research note on Friday, December 19th. Weiss Ratings reissued a "sell (d+)" rating on shares of BlackBerry in a research report on Friday, December 26th. Zacks Research cut shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Monday, November 24th. Finally, TD Securities upgraded shares of BlackBerry to a "hold" rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, BlackBerry has a consensus rating of "Hold" and a consensus price target of $5.10.

BlackBerry Profile

BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry's core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.

At the heart of BlackBerry's offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.

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