Legal & General Group Plc Trims Stake in BlackBerry Limited $BB

Key Points

• Legal & General Group trimmed its BlackBerry stake by 5.2% in the fourth quarter, selling 1.65 million shares and ending with about 5.15% ownership valued at $114.2 million. Institutional investors still hold a majority of the stock at 54.48%.
• BlackBerry beat earnings expectations in its latest quarter, reporting $0.06 EPS versus $0.04 expected and revenue of $157.96 million, up 10.1% year over year. The company also issued guidance for Q1 2027 and FY 2027.
• Despite the earnings beat, analyst sentiment remains cautious: the stock has an average rating of Hold with a consensus price target of $4.88. Shares recently traded at $8.77, while insiders, including the CEO and an SVP, also sold shares during the quarter.

Legal & General Group Plc decreased its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,223,731 shares of the company's stock after selling 1,646,467 shares during the period. Legal & General Group Plc owned about 5.15% of BlackBerry worth $114,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of BlackBerry by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,793,046 shares of the company's stock worth $116,086,000 after acquiring an additional 517,715 shares during the period. First Trust Advisors LP grew its stake in shares of BlackBerry by 18.1% in the 3rd quarter. First Trust Advisors LP now owns 18,592,150 shares of the company's stock worth $90,730,000 after buying an additional 2,844,036 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of BlackBerry in the 3rd quarter worth approximately $1,192,000. Delos Wealth Advisors LLC purchased a new stake in shares of BlackBerry in the 3rd quarter worth approximately $34,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of BlackBerry in the 3rd quarter worth approximately $656,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

BlackBerry Stock Performance

Shares of BB opened at $8.77 on Friday. The business's fifty day simple moving average is $5.05 and its two-hundred day simple moving average is $4.26. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.26. BlackBerry Limited has a 12 month low of $3.12 and a 12 month high of $9.03. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 109.69 and a beta of 2.10.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Thursday, April 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. BlackBerry had a return on equity of 10.09% and a net margin of 9.69%.The business had revenue of $157.96 million for the quarter, compared to the consensus estimate of $144.27 million. During the same period last year, the business posted $0.03 EPS. The company's revenue was up 10.1% compared to the same quarter last year. BlackBerry has set its Q1 2027 guidance at 0.020-0.030 EPS and its FY 2027 guidance at 0.150-0.190 EPS. Research analysts anticipate that BlackBerry Limited will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,908 shares of the stock in a transaction on Saturday, April 4th. The stock was sold at an average price of $3.56, for a total transaction of $106,472.48. Following the sale, the senior vice president directly owned 94,903 shares in the company, valued at approximately $337,854.68. This trade represents a 23.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Joseph Giamatteo sold 27,066 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $3.56, for a total value of $96,354.96. Following the sale, the chief executive officer owned 899,146 shares in the company, valued at approximately $3,200,959.76. This represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 73,171 shares of company stock worth $260,489. Company insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $4.50 target price on shares of BlackBerry in a report on Friday, April 10th. Wall Street Zen raised BlackBerry from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Canaccord Genuity Group dropped their target price on BlackBerry from $4.60 to $4.40 and set a "hold" rating on the stock in a report on Friday, April 10th. Finally, Weiss Ratings raised BlackBerry from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, BlackBerry has an average rating of "Hold" and an average price target of $4.88.

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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