BlackBerry Limited (NYSE:BB) Stake Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of BlackBerry Limited (NYSE:BB) by 22.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,301,615 shares of the company’s stock after selling 370,107 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of BlackBerry worth $3,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BB. Millennium Management LLC lifted its position in shares of BlackBerry by 5,408.9% in the 2nd 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 in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after buying an additional 1,637,916 shares in the last quarter. Potrero Capital Research LLC acquired a new position in BlackBerry during the third quarter valued at $2,359,000. Cubist Systematic Strategies LLC lifted its stake in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after acquiring an additional 488,934 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of BlackBerry in the third quarter worth approximately $1,285,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. CIBC lifted their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price target for the company from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.69.

BlackBerry Stock Performance

BB opened at $3.99 on Friday. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $3.17 and its 200-day simple moving average is $2.66. The stock has a market cap of $2.36 billion, a PE ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. Sell-side analysts forecast that BlackBerry Limited will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the sale, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mattias Eriksson sold 14,475 shares of the stock in a transaction on 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 directly owns 238,838 shares in the company, valued at approximately $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 a total of 219,796 shares of company stock worth $823,314 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.