BlackBerry Limited (NYSE:BB) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its position in shares of BlackBerry Limited (NYSE:BB) by 815.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,884 shares of the company’s stock after acquiring an additional 488,934 shares during the period. Cubist Systematic Strategies LLC owned about 0.09% of BlackBerry worth $1,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc raised its holdings in shares of BlackBerry by 1.6% during the fourth quarter. TD Asset Management Inc now owns 1,454,153 shares of the company’s stock worth $5,183,000 after purchasing an additional 22,830 shares during the period. Scotia Capital Inc. lifted its holdings in BlackBerry by 12.9% in the fourth quarter. Scotia Capital Inc. now owns 73,400 shares of the company’s stock worth $260,000 after acquiring an additional 8,378 shares during the last quarter. CIBC Asset Management Inc boosted its stake in BlackBerry by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 523,257 shares of the company’s stock valued at $1,862,000 after acquiring an additional 19,331 shares during the period. First Trust Advisors LP grew its holdings in shares of BlackBerry by 70.1% during the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock valued at $119,657,000 after purchasing an additional 13,925,510 shares during the last quarter. Finally, Hawk Ridge Capital Management LP raised its position in shares of BlackBerry by 39.8% during the 4th quarter. Hawk Ridge Capital Management LP now owns 6,326,400 shares of the company’s stock worth $22,395,000 after purchasing an additional 1,800,800 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BB shares. Canaccord Genuity Group lowered their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Raymond James dropped their price objective on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a report on Friday, June 28th. Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Robert W. Baird dropped their price target on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, TD Securities reduced their price objective on BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.20.

Insider Buying and Selling

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 transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

BlackBerry Price Performance

Shares of NYSE:BB opened at $2.43 on Wednesday. The stock’s 50 day moving average price is $2.36 and its 200 day moving average price is $2.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -8.38 and a beta of 1.39. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.70.

BlackBerry (NYSE:BB) last announced 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 return on equity of 3.33% and a negative net margin of 21.66%. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

BlackBerry 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.