Geode Capital Management LLC Grows Stock Holdings in BlackBerry Limited (NYSE:BB)

Geode Capital Management LLC raised its position in shares of BlackBerry Limited (NYSE:BB) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,073 shares of the company’s stock after buying an additional 7,652 shares during the period. Geode Capital Management LLC’s holdings in BlackBerry were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the period. International Assets Investment Management LLC boosted its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the period. Signaturefd LLC boosted its holdings in BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the period. Creative Planning boosted its holdings in BlackBerry by 40.8% in the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after purchasing an additional 10,585 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in BlackBerry in the second quarter valued at $28,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. CIBC lifted their target price on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price target on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday. Canaccord Genuity Group lifted their price target on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and an average target price of $3.69.

Insider Activity at BlackBerry

In related news, CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. The trade was a 28.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mattias Eriksson sold 14,475 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the transaction, the insider now owns 238,838 shares in the company, valued at $878,923.84. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,796 shares of company stock worth $823,314 in the last quarter. Company insiders own 0.34% of the company’s stock.

BlackBerry Price Performance

BB opened at $4.05 on Friday. The business’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.35. The stock has a market capitalization of $2.40 billion, a P/E ratio of -16.20 and a beta of 1.30.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. Analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current year.

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.