NewGen Equity Long Short Fund Purchases Shares of 2,700,000 BlackBerry Limited $BB

NewGen Equity Long Short Fund acquired a new position in shares of BlackBerry Limited (NYSE:BB) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,700,000 shares of the company’s stock, valued at approximately $12,366,000. BlackBerry makes up about 7.3% of NewGen Equity Long Short Fund’s portfolio, making the stock its 4th biggest holding. NewGen Equity Long Short Fund owned approximately 0.46% of BlackBerry as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in BB. Chicago Partners Investment Group LLC acquired a new stake in BlackBerry during the first quarter worth approximately $37,000. LeConte Wealth Management LLC purchased a new stake in BlackBerry in the second quarter valued at approximately $61,000. Ground Swell Capital LLC purchased a new stake in BlackBerry in the second quarter valued at approximately $69,000. AE Wealth Management LLC acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $71,000. Finally, Marathon Trading Investment Management LLC purchased a new position in shares of BlackBerry during the second quarter worth approximately $85,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BB. Zacks Research upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Canaccord Genuity Group restated a “hold” rating and issued a $4.60 price objective on shares of BlackBerry in a research note on Friday, September 26th. TD Securities downgraded shares of BlackBerry from a “buy” rating to a “hold” rating and increased their target price for the stock from $4.00 to $5.00 in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackBerry in a research report on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on BlackBerry from $5.00 to $5.50 and gave the company a “neutral” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.10.

Insiders Place Their Bets

In other BlackBerry news, insider Philip S. Kurtz sold 44,178 shares of the company’s stock in a transaction on Sunday, September 28th. The stock was sold at an average price of $4.95, for a total value of $218,681.10. Following the sale, the insider owned 95,468 shares of the company’s stock, valued at approximately $472,566.60. This represents a 31.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Joseph Giamatteo sold 28,343 shares of BlackBerry stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $4.62, for a total transaction of $130,944.66. Following the transaction, the chief executive officer owned 568,164 shares of the company’s stock, valued at approximately $2,624,917.68. The trade was a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 88,565 shares of company stock worth $423,706. 0.37% of the stock is owned by corporate insiders.

BlackBerry Price Performance

Shares of BB opened at $4.32 on Wednesday. The firm has a market capitalization of $2.55 billion, a PE ratio of -431.50 and a beta of 1.52. The stock’s 50 day moving average is $4.52 and its two-hundred day moving average is $4.16. BlackBerry Limited has a twelve month low of $2.29 and a twelve month high of $6.24. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $122.03 million. BlackBerry had a positive return on equity of 6.07% and a negative net margin of 0.60%.BlackBerry’s revenue for the quarter was down 10.6% on a year-over-year basis. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. Research analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current year.

BlackBerry Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.