Vanguard Group increases stake in BlackBerry

According to MarketBeat, Vanguard Group boosted its stake in BlackBerry (BlackBerry Stock Quote, Chart, News, Analysts, Financials NYSE:BB) by 1.0% in the first quarter, holding 23,084,515 shares worth $86.9-million at quarter-end. That position represented about 3.87% of the company.

Other institutional investors also adjusted their holdings. Mackenzie Financial Corp grew its position by 6.7% to 376,884 shares, while TD Asset Management Inc. more than doubled its stake to 4,349,647 shares. Baader Bank Aktiengesellschaft, Cetera Investment Advisers, and Avantax Advisory Services also increased or initiated positions. In total, institutional investors and hedge funds own 54.5% of BlackBerry’s stock.

Corporate insiders sold 58,417 shares valued at $267,524 during the quarter, including trades by insider Philip S. Kurtz and CEO John Joseph Giamatteo. Insiders now hold 0.37% of the company.

BlackBerry shares opened at $3.76 on Friday, compared with a 50-day moving average of $4.02 and a 200-day moving average of $4.07. The stock has traded between $2.22 and $6.24 over the past year and carries a market capitalization of $2.23-billion.

The company last reported quarterly earnings on June 24, posting earnings of $0.02 per share versus a consensus loss of $0.01. Revenue was $121.3-million, ahead of analyst estimates of $112.2-million, but down 15.5% year over year. Return on equity was 2.29% while net margin was negative at 6.44%. BlackBerry has set fiscal Q2 2026 guidance at breakeven to $0.01 per share and full-year guidance at $0.08 to $0.10 per share. Analysts currently expect a full-year loss of $0.03 per share.

Analyst sentiment remains divided, according to MarketBeat. CIBC reiterated an “Outperform” rating in June, while Wall Street Zen downgraded the stock to “Hold” in August. Canaccord Genuity raised its target to $4.60 with a “Hold” rating, Robert W. Baird lifted its target to $5.00 with a “Neutral” view, and RBC raised its target to $4.00 with a “Sector Perform” rating. In total, three analysts rate BlackBerry “Buy” and three “Hold,” giving it a consensus rating of “Moderate Buy” and an average price target of $4.60.