Private Advisor Group LLC Decreases Position in BlackBerry Limited (NYSE:BB)

Private Advisor Group LLC lowered its stake in shares of BlackBerry Limited (NYSE:BB) by 15.0% during the third quarter, Holdings Channel reports. The fund owned 26,823 shares of the company’s stock after selling 4,735 shares during the period. Private Advisor Group LLC’s holdings in BlackBerry were worth $70,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares in the last quarter. Signaturefd LLC boosted its stake in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after buying an additional 9,156 shares in the last quarter. Creative Planning increased its stake in shares of BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after buying an additional 10,585 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in BlackBerry in the second quarter valued at approximately $28,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now owns 30,129 shares in the company, valued at $76,226.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. CIBC boosted their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.23.

BlackBerry Trading Up 0.4 %

NYSE BB opened at $2.32 on Friday. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.44. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s fifty day moving average price is $2.41 and its 200 day moving average price is $2.51.

BlackBerry (NYSE:BB) last posted its earnings results 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. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. On average, sell-side analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

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.