Blackberry's chief people officer sells shares worth $89,520

Jennifer Armstrong-Owen, the Senior Vice President and Chief People Officer at BlackBerry Ltd. (NYSE:BB), executed a notable stock transaction recently. According to a filing with the Securities and Exchange Commission, Armstrong-Owen sold 29,940 common shares on April 4, 2025, at a weighted average price of $2.99 per share, totaling approximately $89,520. The transaction occurred amid a significant 20% decline in BlackBerry's stock price over the past week, though InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $3.60 to $6.00. This sale was conducted to cover withholding taxes upon the vesting of Restricted Share Units (RSUs).

Following the transaction, Armstrong-Owen holds 42,398 shares directly. The filing also noted that she acquired 72,338 common shares through the vesting of RSUs, though no monetary value was assigned to this acquisition. The transaction reflects a routine adjustment in Armstrong-Owen's holdings as part of her compensation package.

In other recent news, BlackBerry Limited reported its fourth-quarter earnings, which exceeded analyst expectations. The company posted adjusted earnings per share of $0.03, surpassing the projected $0.02, with revenue reaching $141.7 million, above the consensus forecast of $132.2 million. Despite this strong performance, BlackBerry's forward guidance for the upcoming fiscal year did not meet expectations, with first-quarter revenue projected between $107 million and $115 million, falling short of the anticipated $128.4 million. For fiscal year 2026, the company anticipates revenue between $504 million and $534 million, which is below analysts' estimate of $550.6 million.

RBC Capital Markets recently adjusted its price target for BlackBerry to $3.75, down from $4.00, while maintaining a Sector Perform rating. This revision reflects concerns about BlackBerry's fiscal year 2026 guidance and potential external impacts on its revenue streams, including automotive tariffs and political factors affecting its Secure Communications division. Similarly, Canaccord Genuity lowered its price target to $4.25 from $4.75, maintaining a Hold rating. The firm noted BlackBerry's improved outlook for 2025, yet highlighted uncertainties in the QNX division due to automotive tariffs.

BlackBerry's QNX backlog, valued at approximately $865 million, is seen as a significant potential revenue source, although the timeline for growth remains uncertain. The company also reported a cash position improvement, with total cash and investments increasing by $144 million to $410 million. This financial boost was partly due to improved operating cash flow and proceeds from the sale of Cylance to Arctic Wolf.

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