Oppenheimer & Co. Inc. Makes New $2.24 Million Investment in BlackBerry Limited $BB

Oppenheimer & Co. Inc. purchased a new position in BlackBerry Limited (NYSE:BB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 247,523 shares of the company’s stock, valued at approximately $2,238,000.

A number of other institutional investors have also recently added to or reduced their stakes in BB. Integrated Wealth Concepts LLC bought a new stake in BlackBerry in the second quarter worth approximately $31,000. CoreCap Advisors LLC acquired a new position in shares of BlackBerry during the 2nd quarter worth $31,000. Elevation Wealth Partners LLC bought a new position in shares of BlackBerry during the 2nd quarter valued at $32,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of BlackBerry during the 3rd quarter valued at $28,000. Finally, Global Retirement Partners LLC bought a new position in shares of BlackBerry during the 2nd quarter valued at $50,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

BlackBerry Trading Down 8.2%

NYSE:BB opened at $8.44 on Friday. BlackBerry Limited has a 12 month low of $3.12 and a 12 month high of $13.59. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 70.29 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. The company’s 50 day moving average is $8.42 and its 200-day moving average is $6.85.

BlackBerry (NYSE:BB) last issued its quarterly earnings data 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. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The business had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. During the same period in the previous year, the company earned $0.04 earnings per share. BlackBerry’s revenue for the quarter was up 26.0% on a year-over-year basis. 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 analysts anticipate that BlackBerry Limited will post 0.17 EPS for the current year.

Insider Activity at BlackBerry

In related news, CEO John Giamatteo sold 151,000 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $9.40, for a total transaction of $1,419,400.00. Following the completion of the transaction, the chief executive officer directly owned 641,494 shares in the company, valued at $6,030,043.60. This represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tim Foote sold 16,672 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.14, for a total transaction of $152,382.08. Following the completion of the sale, the chief financial officer directly owned 56,863 shares of the company’s stock, valued at approximately $519,727.82. This trade represents a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 384,433 shares of company stock worth $3,481,255. 0.51% of the stock is owned by insiders.

BlackBerry Company 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.