US Bancorp DE Lowers Stock Position in BlackBerry Limited (NYSE:BB)

US Bancorp DE cut its holdings in shares of BlackBerry Limited (NYSE:BB) by 41.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,048 shares of the company’s stock after selling 24,755 shares during the period. US Bancorp DE’s holdings in BlackBerry were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Quantinno Capital Management LP purchased a new position in BlackBerry in the 3rd quarter valued at $38,000. Masso Torrence Wealth Management Inc. purchased a new position in BlackBerry in the 4th quarter valued at $38,000. Sanctuary Advisors LLC purchased a new position in BlackBerry in the 4th quarter valued at $40,000. Palacios Wealth Management LLC purchased a new position in BlackBerry in the 4th quarter valued at $50,000. Finally, Ballentine Partners LLC purchased a new position in BlackBerry in the 4th quarter valued at $65,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BB has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research report on Tuesday, March 11th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Royal Bank of Canada raised their target price on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a report on Friday, December 20th. Finally, Robert W. Baird raised their target price on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.91.

Insider Buying and Selling

In related news, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is owned by corporate insiders.

BlackBerry Trading Up 6.2 %

BlackBerry stock opened at $4.53 on Monday. The stock has a market cap of $2.70 billion, a PE ratio of -20.57 and a beta of 1.27. The stock has a 50-day moving average price of $4.65 and a 200 day moving average price of $3.35. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm 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 firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Equities research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal 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.