Loftus Peak Pty Ltd Purchases 1,787,437 Shares of BlackBerry Limited $BB

Loftus Peak Pty Ltd purchased a new stake in shares of BlackBerry Limited (NYSE:BB) in the third quarter, Holdings Channel.com reports. The firm purchased 1,787,437 shares of the company’s stock, valued at approximately $16,158,000. BlackBerry accounts for approximately 1.9% of Loftus Peak Pty Ltd’s investment portfolio, making the stock its 21st largest position.

Other institutional investors have also recently made changes to their positions in the company. V2 Financial group LLC increased its holdings in shares of BlackBerry by 6.8% in the first quarter. V2 Financial group LLC now owns 32,100 shares of the company’s stock worth $104,000 after purchasing an additional 2,050 shares during the period. Integrated Wealth Concepts LLC bought a new stake in BlackBerry during the second quarter valued at $31,000. CoreCap Advisors LLC bought a new stake in BlackBerry during the second quarter valued at $31,000. Elevation Wealth Partners LLC bought a new stake in BlackBerry during the second quarter valued at $32,000. Finally, Global Retirement Partners LLC purchased a new position in BlackBerry during the second quarter worth about $50,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Performance

BlackBerry stock opened at $8.21 on Thursday. 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 has a market capitalization of $4.82 billion, a PE ratio of 68.45 and a beta of 2.20. The firm has a fifty day simple moving average of $8.37 and a two-hundred day simple moving average of $7.91. BlackBerry Limited has a twelve month low of $3.12 and a twelve month high of $13.59.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $144.22 million. During the same period in the prior year, the business posted $0.04 earnings per share. The company’s revenue 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. Research analysts expect that BlackBerry Limited will post 0.17 EPS for the current year.

Insider Transactions at BlackBerry

In other news, CFO Tim Foote sold 16,672 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.14, for a total value of $152,382.08. Following the completion of the sale, the chief financial officer owned 56,863 shares of the company’s stock, valued at approximately $519,727.82. The trade was a 22.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Giamatteo sold 29,272 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $9.20, for a total value of $269,302.40. Following the completion of the sale, the chief executive officer directly owned 758,416 shares of the company’s stock, valued at approximately $6,977,427.20. This trade represents a 3.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 134,433 shares of company stock valued at $1,196,595. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BB has been the subject of several recent analyst reports. TD Securities restated a “hold” rating and set a $8.00 target price on shares of BlackBerry in a research report on Friday, June 26th. Canadian Imperial Bank of Commerce raised their price target on BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a 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. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 price target on shares of BlackBerry in a research report on Monday, September 21st. Finally, Zacks Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.86.

BlackBerry Company Profile

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.