TD Waterhouse Canada Inc. Sells 58,449 Shares of BlackBerry Limited $BB

TD Waterhouse Canada Inc. cut its holdings in shares of BlackBerry Limited (NYSE:BB) by 55.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,591 shares of the company’s stock after selling 58,449 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in BlackBerry were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of BlackBerry in the second quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in BlackBerry during the 2nd quarter worth $69,786,000. Bank of America Corp DE bought a new position in BlackBerry during the 2nd quarter worth $64,718,000. Renaissance Technologies LLC increased its stake in BlackBerry by 139.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock worth $11,488,000 after acquiring an additional 2,063,153 shares during the period. Finally, BlackRock Inc. acquired a new position in BlackBerry in the 2nd quarter valued at $42,002,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackBerry

In related news, insider Philip S. Kurtz sold 6,164 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.45, for a total value of $52,085.80. Following the completion of the transaction, the insider owned 73,109 shares of the company’s stock, valued at $617,771.05. This represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jennifer Armstrong-Owen sold 3,379 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $28,248.44. Following the completion of the sale, the senior vice president owned 113,904 shares in the company, valued at $952,237.44. This represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 384,433 shares of company stock worth $3,481,255 in the last ninety days. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BB. Raymond James Financial upped their target price on BlackBerry from $4.75 to $9.50 and gave the company a “market perform” rating in a research report on Friday, June 26th. Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. TD Securities restated a “hold” rating and issued a $8.00 price target on shares of BlackBerry in a research report on Friday, June 26th. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.86.

BlackBerry Stock Performance

NYSE:BB opened at $8.90 on Friday. The stock’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $8.14. The firm has a market capitalization of $5.23 billion, a PE ratio of 74.21 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $166.56 million for the quarter, compared to analysts’ expectations of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current fiscal year.

About BlackBerry

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.