EP Wealth Advisors LLC Takes Position in BlackBerry Limited (NYSE:BB)

EP Wealth Advisors LLC acquired a new position in BlackBerry Limited (NYSE:BB) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,121 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of BlackBerry by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after buying an additional 149,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of BlackBerry by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock valued at $27,920,000 after buying an additional 886,523 shares in the last quarter. Quantbot Technologies LP bought a new stake in BlackBerry in the 1st quarter worth approximately $645,000. Cubist Systematic Strategies LLC boosted its stake in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after buying an additional 488,934 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in BlackBerry by 132.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock worth $16,631,000 after buying an additional 3,458,275 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BB has been the subject of a number of recent research reports. Canaccord Genuity Group lowered their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Robert W. Baird decreased their price objective on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. CIBC upgraded BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BlackBerry presently has an average rating of “Hold” and an average price target of $3.20.

BlackBerry Trading Up 1.9 %

NYSE:BB opened at $2.37 on Friday. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.44. The company has a 50-day moving average price of $2.35 and a 200-day moving average price of $2.58. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -8.16 and a beta of 1.39.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 3.33% and a negative net margin of 21.66%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. Equities analysts predict that BlackBerry Limited will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

About BlackBerry

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.