Virtu Financial LLC Increases Stock Position in BlackBerry Limited (NYSE:BB)

Virtu Financial LLC grew its position in shares of BlackBerry Limited (NYSE:BB) by 911.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,166 shares of the company’s stock after purchasing an additional 334,466 shares during the period. Virtu Financial LLC owned approximately 0.06% of BlackBerry worth $920,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in BlackBerry by 28.4% during the 4th quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $90,000 after buying an additional 5,645 shares in the last quarter. BNP Paribas Financial Markets increased its position in BlackBerry by 33.1% in the fourth quarter. BNP Paribas Financial Markets now owns 140,079 shares of the company’s stock worth $496,000 after purchasing an additional 34,818 shares during the last quarter. Jump Financial LLC purchased a new stake in BlackBerry during the fourth quarter valued at $362,000. Norges Bank bought a new position in BlackBerry during the fourth quarter valued at $48,775,000. Finally, Oxford Asset Management LLP purchased a new position in shares of BlackBerry in the 4th quarter worth $60,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $2.38 on Thursday. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $5.25. The company has a market capitalization of $1.41 billion, a PE ratio of -8.21 and a beta of 1.39. The stock’s fifty day moving average is $2.36 and its two-hundred day moving average is $2.61. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business’s revenue for the quarter was down 61.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

BB has been the subject of a number of analyst reports. Raymond James lowered their price target on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a report on Friday, June 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a report on Thursday, June 27th. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Canaccord Genuity Group lowered their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, Canaccord Genuity Group cut their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.20.

Insider Activity at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $2.45, for a total transaction of $128,745.05. Following the transaction, the insider now directly owns 214,440 shares in the company, valued at approximately $525,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

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.