Avantax Advisory Services Inc. bought a new position in BlackBerry Limited (NYSE:BB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,638 shares of the company’s stock, valued at approximately $65,000.
A number of other hedge funds also recently modified their holdings of BB. Scotia Capital Inc. boosted its stake in shares of BlackBerry by 4.0% during the second quarter. Scotia Capital Inc. now owns 226,577 shares of the company’s stock valued at $1,130,000 after purchasing an additional 8,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of BlackBerry by 1.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,831,206 shares of the company’s stock valued at $8,944,000 after purchasing an additional 34,445 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of BlackBerry during the first quarter valued at approximately $56,000. APG Asset Management N.V. bought a new position in shares of BlackBerry during the first quarter valued at approximately $675,000. Finally, Virtu Financial LLC purchased a new stake in BlackBerry during the second quarter valued at approximately $515,000. Institutional investors and hedge funds own 46.69% of the company’s stock.
A number of equities research analysts recently commented on the stock. TD Securities increased their target price on shares of BlackBerry from $5.00 to $5.50 and gave the company a “hold” rating in a research report on Friday, September 25th. ValuEngine cut shares of BlackBerry from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $5.80.
NYSE BB opened at $4.57 on Thursday. The company has a fifty day simple moving average of $4.82 and a two-hundred day simple moving average of $4.75. The stock has a market cap of $2.55 billion, a P/E ratio of -3.46 and a beta of 1.51. BlackBerry Limited has a 12-month low of $2.70 and a 12-month high of $6.89.
BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.09. The business had revenue of $259.00 million during the quarter, compared to analysts’ expectations of $239.74 million. BlackBerry had a negative net margin of 72.19% and a positive return on equity of 3.91%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that BlackBerry Limited will post -0.02 earnings per share for the current year.
In related news, insider Randall Cook sold 9,320 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $4.42, for a total transaction of $41,194.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Mark George Wilson sold 7,081 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $4.68, for a total transaction of $33,139.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,270 shares of company stock valued at $1,248,086. 1.56% of the stock is currently owned by corporate insiders.
BlackBerry Company Profile
BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company leverages artificial intelligence and machine learning to deliver solutions in the areas of cybersecurity; safety and data privacy; and endpoint security management, encryption, and embedded systems.