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

TD Waterhouse Canada Inc. lessened its position in BlackBerry Limited (NYSE:BB) by 55.6% in the third quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BB. Legal & General Group Plc acquired a new position 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 shares of BlackBerry during the second quarter valued at $69,786,000. Bank of America Corp DE bought a new position in shares of BlackBerry during the second quarter valued at $64,718,000. BlackRock Inc. bought a new position in shares of BlackBerry during the second quarter valued at $42,002,000. Finally, Primecap Management Co. CA acquired a new position in shares of BlackBerry during the second quarter worth $36,362,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Price Performance

Shares of NYSE BB opened at $8.90 on Friday. BlackBerry Limited has a 1-year low of $3.12 and a 1-year high of $13.59. The firm has a market capitalization of $5.23 billion, a P/E ratio of 74.21 and a beta of 2.20. The firm’s 50-day moving average price is $8.33 and its 200-day moving average price is $8.14. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25.

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

Insider Transactions at BlackBerry

In other news, CEO John Giamatteo sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $8.74, for a total transaction of $865,260.00. Following the transaction, the chief executive officer directly owned 542,494 shares of the company’s stock, valued at $4,741,397.56. This represents a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip S. Kurtz sold 6,164 shares of BlackBerry stock in a transaction on Friday, October 9th. The shares were sold at an average price of $8.45, for a total transaction of $52,085.80. Following the completion of the sale, the insider directly owned 73,109 shares of the company’s stock, valued at approximately $617,771.05. The trade was a 7.78% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 384,433 shares of company stock valued at $3,481,255. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BB shares. Canadian Imperial Bank of Commerce boosted their price objective on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research note on Friday, June 26th. Raymond James Financial increased their price objective on BlackBerry from $4.75 to $9.50 and gave the company a “market perform” rating in a report on Friday, June 26th. TD raised their target price on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.86.

BlackBerry Profile

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.