BlackBerry Limited (NYSE:BB) Stake Cut by Centiva Capital LP

Centiva Capital LP trimmed its holdings in shares of BlackBerry Limited (NYSE:BB) by 90.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,000 shares of the company’s stock after selling 350,016 shares during the period. Centiva Capital LP’s holdings in BlackBerry were worth $92,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BB. Millennium Management LLC grew its stake in BlackBerry by 5,408.9% during the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock worth $8,510,000 after buying an additional 3,369,296 shares during the last quarter. Bank of Montreal Can grew its position in BlackBerry by 32.7% in the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock worth $4,300,000 after purchasing an additional 427,083 shares during the last quarter. TD Asset Management Inc increased its stake in shares of BlackBerry by 1.4% in the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after purchasing an additional 21,259 shares during the period. Intact Investment Management Inc. raised its holdings in shares of BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after buying an additional 294,250 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of BlackBerry by 39.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,315,157 shares of the company’s stock worth $3,262,000 after buying an additional 369,283 shares during the period. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Trading Down 2.4 %

Shares of NYSE BB opened at $2.70 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of -10.78 and a beta of 1.43. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.44. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $2.48 and a two-hundred day moving average price of $2.44.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts predict that BlackBerry Limited will post -0.06 earnings per share 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 shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on BB shares. Canaccord Genuity Group raised their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. CIBC lifted their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.23.

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.