M&G PLC Purchases 157,424 Shares of BlackBerry Limited $BB

M&G PLC boosted its position in BlackBerry Limited (NYSE:BB) by 10.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,608,963 shares of the company’s stock after acquiring an additional 157,424 shares during the period. M&G PLC owned about 0.27% of BlackBerry worth $14,481,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Palacios Wealth Management LLC purchased a new position in shares of BlackBerry during the 3rd quarter worth $109,000. 180 Wealth Advisors LLC purchased a new stake in shares of BlackBerry in the third quarter valued at $98,000. Commonwealth Equity Services LLC purchased a new stake in shares of BlackBerry in the third quarter valued at $330,000. Ascent Group LLC purchased a new stake in shares of BlackBerry in the third quarter valued at $119,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in BlackBerry during the third quarter worth about $443,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BB shares. Canaccord Genuity Group decreased their price target on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th. Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 price objective on shares of BlackBerry in a research note on Monday, September 21st. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, September 25th. Finally, Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, BlackBerry currently has a consensus rating of “Hold” and a consensus target price of $9.86.

Insider Activity

In other news, CFO Tim Foote sold 8,441 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.36, for a total value of $70,566.76. Following the transaction, the chief financial officer directly owned 71,616 shares in the company, valued at $598,709.76. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Philip S. Kurtz sold 6,164 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was 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 in the company, valued at approximately $617,771.05. This trade represents a 7.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 384,433 shares of company stock valued at $3,481,255 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

BlackBerry Stock Down 0.9%

Shares of BB opened at $9.14 on Wednesday. BlackBerry Limited has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The company’s fifty day moving average is $8.50 and its two-hundred day moving average is $7.01. The firm has a market cap of $5.35 billion, a PE ratio of 76.17 and a beta of 2.23. 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 (NYSE:BB) last released its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million during 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 business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the firm posted $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. Analysts forecast that BlackBerry Limited will post 0.17 earnings per share for the current year.

BlackBerry Company Profile

BlackBerry Limited is a Canadian software company that provides cybersecurity and secure communications products, as well as embedded software for vehicles and other connected systems. The company serves businesses, government agencies and organizations around the world. Its cybersecurity and communications offerings include endpoint protection, device and identity management, secure messaging, and crisis communications. BlackBerry also develops QNX software, an embedded operating system and development platform used in automotive systems and other safety-critical applications.