Private Advisor Group LLC Sells 3,810 Shares of BlackBerry Limited (NYSE:BB)

Private Advisor Group LLC trimmed its stake in shares of BlackBerry Limited (NYSE:BB) by 14.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 23,013 shares of the company’s stock after selling 3,810 shares during the quarter. Private Advisor Group LLC’s holdings in BlackBerry were worth $87,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Quantinno Capital Management LP acquired a new stake in BlackBerry in the third quarter valued at about $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry in the fourth quarter valued at about $38,000. Sanctuary Advisors LLC acquired a new stake in BlackBerry in the fourth quarter valued at about $40,000. Palacios Wealth Management LLC bought a new position in BlackBerry in the fourth quarter valued at about $50,000. Finally, Ballentine Partners LLC bought a new position in BlackBerry in the fourth quarter valued at about $65,000. 54.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackBerry

In related news, insider Mattias Eriksson sold 14,475 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $53,268.00. Following the sale, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Insiders have sold a total of 244,221 shares of company stock worth $925,655 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

BlackBerry Trading Up 2.6 %

Shares of BlackBerry stock opened at $4.53 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The stock has a 50 day moving average price of $4.58 and a two-hundred day moving average price of $3.25. The stock has a market capitalization of $2.70 billion, a PE ratio of -20.57 and a beta of 1.27.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company 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. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on BB shares. 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 report on Friday, December 20th. TD Securities 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 report on Friday, December 20th. Royal Bank of Canada increased their target price on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Robert W. Baird increased their target price on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BlackBerry currently has an average rating of “Moderate Buy” and an average price target of $3.69.

BlackBerry Company 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.