BlackBerry executive sells shares worth over $37,000 By Investing.com

Philip S. Kurtz, the Chief Legal Officer and Corporate Secretary of BlackBerry Ltd (NYSE:), has recently sold a portion of his company shares, according to the latest filings. On September 28, 2024, Kurtz sold 15,005 common shares at a weighted average price between $2.53 to $2.54 per share, resulting in a total transaction value of over $37,962.

The sale was conducted in multiple transactions, and the prices reported are weighted averages, exclusive of any fees, commissions, or other expenses related to the sale. The precise number of shares sold at each price point within the provided range is available upon request from BlackBerry, any shareholder of BlackBerry, or the Staff of the SEC.

It’s noteworthy that the transactions also involved a sale to cover withholding taxes related to the vesting of Restricted Share Units (RSUs), as indicated in the footnotes of the filing. These RSUs represent a contingent right to receive BlackBerry common shares or an equivalent amount of cash, or a combination of both, at the discretion of the company.

Kurtz’s transactions are part of the regular disclosure of stock ownership changes by company executives and are reported to the Securities and Exchange Commission. Following the sale, Kurtz still holds a significant number of shares in the company, indicating continued investment in BlackBerry’s future.

Investors and shareholders often monitor such transactions as they may provide insights into executives’ perspectives on the company’s value and future performance. However, it’s important to consider that there can be various reasons for an executive to sell shares, including diversification of assets, tax obligations, or personal financial planning, and not necessarily a reflection of the company’s health or future outlook.

BlackBerry Ltd, known for its secure communication solutions and services, continues to navigate the competitive tech landscape, with its stock performance being of keen interest to investors and market analysts alike.

In other recent news, BlackBerry Limited has reported a successful second quarter of fiscal year 2025, with total revenues reaching $145 million, surpassing projected figures. The company’s IoT and Cybersecurity divisions have shown strong performance, with year-over-year growth of 12% and 10% respectively. Operational efficiency and cost management have also been a focus, resulting in a 24% reduction in operating expenses. BlackBerry has announced plans for an upcoming Investor Day, where it will present detailed financial strategies and insights.

In terms of earnings, BlackBerry’s IoT division generated $55 million, while the Cybersecurity division reported $87 million. The company also achieved breakeven for Non-GAAP EPS and adjusted EBITDA. Looking ahead, BlackBerry anticipates IoT revenue of $56 to $60 million and Cyber revenue of $86 to $90 million for Q3, with the aim to achieve positive cash flow and EBITDA in Q4.

However, delays in automotive software development have impacted the IVY program, and Cylance revenue has declined due to churn. Despite these challenges, the company remains committed to innovation and efficiency in driving growth. The upcoming Investor Day will provide further insights into BlackBerry’s performance and growth strategies.

InvestingPro Insights

To provide additional context to Philip S. Kurtz’s recent stock sale, let’s examine some key financial metrics and insights from InvestingPro for BlackBerry Ltd (NYSE:BB).

According to InvestingPro data, BlackBerry’s market capitalization stands at $1.54 billion, reflecting its current position in the tech sector. The company’s revenue for the last twelve months as of Q2 2025 was $637 million, with a notable revenue growth of 9.85% in Q2 2025 compared to the previous quarter. This growth is particularly interesting given the recent executive stock sale and may indicate some positive momentum in the company’s operations.

However, it’s important to note that BlackBerry is currently not profitable, with an operating income of -$50 million over the last twelve months. This aligns with an InvestingPro Tip stating that analysts do not anticipate the company will be profitable this year. This context adds significance to Kurtz’s decision to sell shares, as it may reflect the challenging financial landscape the company is navigating.

Another relevant InvestingPro Tip indicates that three analysts have revised their earnings downwards for the upcoming period. This information, combined with the company’s current financial performance, suggests that BlackBerry may face some headwinds in the near term.

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for BlackBerry, providing a deeper understanding of the company’s financial health and market position. These insights can be valuable for interpreting executive actions like Kurtz’s stock sale in the broader context of BlackBerry’s business outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.