Steward Partners Investment Advisory LLC Trims Stock Holdings in BlackBerry Limited (NYSE:BB)

Steward Partners Investment Advisory LLC reduced its holdings in shares of BlackBerry Limited (NYSE:BB) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,194 shares of the company’s stock after selling 8,902 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in BlackBerry were worth $137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Quantinno Capital Management LP bought a new position in shares of BlackBerry in the third quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. bought a new position in shares of BlackBerry in the fourth quarter valued at approximately $38,000. Sanctuary Advisors LLC bought a new position in BlackBerry in the 4th quarter valued at $40,000. Bravias Capital Group LLC bought a new position in BlackBerry in the 4th quarter valued at $45,000. Finally, Palacios Wealth Management LLC bought a new position in BlackBerry in the 4th quarter valued at $50,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Trading Up 6.2 %

BB opened at $4.53 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -20.57 and a beta of 1.27. The business has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $3.35. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same period in the prior year, the business earned $0.01 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts predict that BlackBerry Limited will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BB shares. Royal Bank of Canada lifted their price target on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.91.

Insiders Place Their Bets

In related news, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mattias Eriksson sold 14,475 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the sale, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is owned by corporate insiders.

BlackBerry Company 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.