First Trust Advisors Reduces $107M in BlackBerry Limited ($BB)
First Trust Advisors reduced its BlackBerry holdings significantly in Q1 2026.
Key Points
- First Trust Advisors cut its BlackBerry stake by 34%, selling about 8.5 million shares to hold 16.5 million shares worth $206 million.
- BlackBerry's stock traded near $12.48 on Tuesday, with a market cap of $6.68 billion and a forward P/E ratio of 49.9.
- Insiders bought shares in late May, and analysts maintain mixed ratings with price targets ranging from $4.4 to $13.
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First Trust Advisors has reduced its stake in BlackBerry Limited (NYSE:BB) by 34% during the first quarter of 2026. The firm sold 8,490,714 shares, bringing its total holdings to 16,500,938 shares. The remaining shares are valued at approximately $205.9 million, according to the latest Form 13F filing with the SEC.
What Changed in First Trust Advisors' BlackBerry Position
First Trust Advisors trimmed its BlackBerry holdings from 24,991,652 shares to 16,500,938 shares, a decrease of about 8.5 million shares. This change represents a 34% reduction in its position, reflecting a strategic decision to cut back on its investment in the company.
Other Institutional Activity in BlackBerry
Several other funds have been active in BlackBerry as well. Legal & General Group PLC increased its holdings by 4,644,181 shares, ending with 34,867,912 shares valued at roughly $112.7 million, marking a 15.4% increase. FIFTHDELTA LTD added 8,850,571 shares, raising its stake by 50.3% to 26,445,027 shares, worth about $85.7 million. On the other hand, Voya Investment Management LLC reduced its position by 510,946 shares, leaving it with 25,664,963 shares valued at $83.2 million, a 2% decrease. Vanguard Capital Management LLC opened a new position, acquiring 16,718,029 shares valued at approximately $54.2 million.
BlackBerry Limited Stock Up 55.0%
Shares of BlackBerry Limited traded around $12.48 on Tuesday. The company has a market cap of approximately $6.68 billion and a forward P/E ratio of 49.9, suggesting expectations of future earnings growth. BlackBerry's beta is 1.551, indicating higher volatility compared to the overall market. The stock's 52-week range has seen lows of $3.12 and highs of $11.49, with a 50-day moving average of $7.42 and a 200-day moving average of $4.85.
$BB stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
In its latest earnings report, BlackBerry reported revenue of $580.3 million, reflecting a growth rate of 25.6%. The company's net margin stood at 10.3%, with a return on equity of 8.1%. BlackBerry's next earnings announcement is scheduled for September 24, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
Analyst view held steady after the report.
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EPS & revenue
EPS beat estimates by 38.9%. Revenue beat estimates by 10.8%.
- Profit surprise
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Pre-earnings setup
Expectations were about average going in.
- Analyst signal
- Earnings quality
Earnings Call Summary
BlackBerry delivered a strong second quarter with total revenue of $129.6 million, up 3 percent year over year, and all three divisions beat guidance. QNX revenue hit $63.1 million with 15 percent growth and 32 percent EBITDA margin, driven by royalties and new design wins including a mid-eight-figure ADAS deal in China. The company achieved positive cash flow of $3.4 million despite paying $19 million in back taxes, and management noted that the pause in automotive programs appears to be ending with more momentum expected in the second half of the year.
Guidance They raised full-year revenue to between $519 billion and $541 million, up from earlier guidance, driven by strength in QNX and Secure Communications. They expect third quarter revenue between $132 million and $140 million, with the company planning to generate $35 to $40 million in operating cash flow for the full year plus an additional $38 million from a prior sale.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Insider Buying and Selling at BlackBerry Limited
Recent insider activity at BlackBerry shows several insiders purchasing shares on May 31, 2026. Barry Mainz acquired 8,541 shares, Lisa Bahash bought 8,889 shares, Wayne Wouters purchased 8,750 shares, Lori O'Neill also bought 8,750 shares, Philip Brace acquired 8,750 shares, and Richard Lynch purchased 10,695 shares.
Analysts Set New Price Targets
Analysts have maintained mixed ratings on BlackBerry. RBC Capital maintained a "hold" rating with a $9.00 price target on June 29, 2026. CIBC maintained a "buy" rating with a $13.00 target on June 26, 2026. Stifel initiated coverage with a "buy" rating and a $12.00 target on June 24, 2026. The consensus rating among analysts is "hold," with an average target price of $9.17 among six analysts.
About BlackBerry Limited
BlackBerry Limited, headquartered in Waterloo, Ontario, provides software and services to businesses and governments worldwide. Operating in the technology sector, the company specializes in secure communications, with products like BlackBerry Dynamics and BlackBerry Workspaces. Led by CEO John Joseph Giamatteo, BlackBerry employs around 1,749 people. The company was originally known as Research In Motion and changed to its current name in 2013.
Bottom Line
First Trust Advisors' decision to cut its BlackBerry holdings by 34% in the first quarter of 2026 signals a shift in its investment strategy. Investors closely watch such moves, though 13F filings are backward-looking and may not represent the current position. BlackBerry remains a notable player in the tech industry, with ongoing interest from institutional investors and analysts.
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