Oppenheimer & Co. Inc. Sells 272,120 Shares of BlackBerry Limited (NYSE:BB)

Oppenheimer & Co. Inc. decreased its position in BlackBerry Limited (NYSE:BB) by 88.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,018 shares of the company’s stock after selling 272,120 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in BlackBerry were worth $92,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BB. Millennium Management LLC lifted its holdings in BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after acquiring an additional 3,369,296 shares during the period. EdgePoint Investment Group Inc. increased its position in BlackBerry by 25.6% in the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock worth $34,343,000 after buying an additional 2,536,966 shares in the last quarter. Intact Investment Management Inc. increased its position in BlackBerry by 508.1% in the second quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company’s stock worth $2,862,000 after buying an additional 956,690 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after buying an additional 488,934 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in BlackBerry by 141.4% in the second quarter. Headlands Technologies LLC now owns 806,729 shares of the company’s stock worth $2,001,000 after buying an additional 472,577 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction that occurred on Saturday, September 28th. The stock was 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 directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

BlackBerry Stock Performance

NYSE BB opened at $2.35 on Friday. The stock has a market capitalization of $1.39 billion, a PE ratio of -9.40 and a beta of 1.42. The business has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $2.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.44.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) 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 analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. On average, research analysts predict that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on BB shares. StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday. Canaccord Genuity Group upped their price target on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research report on Friday, September 27th. Finally, CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.23.

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.