SG Americas Securities LLC Sells 31,241 Shares of BlackBerry Limited (NYSE:BB)

SG Americas Securities LLC reduced its position in shares of BlackBerry Limited (NYSE:BB) by 24.0% in the third quarter, HoldingsChannel reports. The firm owned 98,873 shares of the company’s stock after selling 31,241 shares during the quarter. SG Americas Securities LLC’s holdings in BlackBerry were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of BlackBerry by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 441,235 shares of the company’s stock valued at $1,101,000 after purchasing an additional 11,370 shares during the period. Millennium Management LLC grew its stake in shares of BlackBerry by 5,408.9% during the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BlackBerry during the 2nd quarter valued at about $645,000. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Stock Down 0.8 %

NYSE BB opened at $2.56 on Monday. The stock’s 50 day moving average is $2.40 and its 200 day moving average is $2.56. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.44. The stock has a market cap of $1.51 billion, a PE ratio of -8.83 and a beta of 1.40.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. During the same period in the previous year, the firm earned ($0.06) EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Research analysts predict that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research report on Friday, September 27th. Canaccord Genuity Group lowered their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research report on Thursday, June 27th. TD Securities lowered their price objective on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research report on Thursday, June 27th. CIBC lifted their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird lowered their price objective on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.23.

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.