Nuveen LLC Invests $505,000 in BlackBerry Limited $BB

Key Points

• Nuveen LLC has acquired a new position in BlackBerry Limited, purchasing 134,068 shares valued at approximately $505,000 during the first quarter of 2023.
• BlackBerry's CEO, John Joseph Giamatteo, sold 26,998 shares at an average price of $4.32, which decreased his ownership by 4.85% to 530,135 shares.
• Analysts have varied opinions on BlackBerry's stock, with consensus ratings ranging from "hold" to "moderate buy" and a price target of $4.60.

Nuveen LLC purchased a new position in shares of BlackBerry Limited (NYSE:BB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 134,068 shares of the company's stock, valued at approximately $505,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BB. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 worth $87,064,000 after acquiring an additional 9,442,676 shares during the period. Two Sigma Investments LP raised its stake in shares of BlackBerry by 293.7% during the 4th quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company's stock worth $17,207,000 after purchasing an additional 3,395,786 shares during the period. TD Asset Management Inc boosted its holdings in shares of BlackBerry by 163.7% in the 1st quarter. TD Asset Management Inc now owns 4,349,647 shares of the company's stock worth $16,380,000 after buying an additional 2,700,319 shares during the last quarter. Bank of America Corp DE grew 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 buying an additional 1,530,263 shares during the period. Finally, Vident Advisory LLC purchased a new stake in BlackBerry during the fourth quarter worth about $2,938,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 16,217 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was 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. This trade represents a 22.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Joseph Giamatteo sold 26,998 shares of BlackBerry 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 of the company's stock, valued at approximately $2,290,183.20. This trade represents a 4.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,417 shares of company stock worth $267,524. Insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

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

BlackBerry Price Performance

NYSE BB traded up $0.04 during trading hours on Wednesday, hitting $3.79. The company had a trading volume of 4,932,861 shares, compared to its average volume of 5,803,246. BlackBerry Limited has a 52 week low of $2.24 and a 52 week high of $6.24. The firm has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $3.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -63.08 and a beta of 1.49.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a positive return on equity of 2.29% and a negative net margin of 6.44%.The firm had revenue of $121.26 million for the quarter, compared to analysts' expectations of $112.18 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The company'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. Equities research analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current 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.