HighTower Advisors LLC Acquires New Shares in BlackBerry Limited (NYSE:BB)

HighTower Advisors LLC purchased a new stake in shares of BlackBerry Limited (NYSE:BB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,733 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP acquired a new stake in BlackBerry in the 3rd quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. bought a new position in shares of BlackBerry in the fourth quarter worth $38,000. Sanctuary Advisors LLC acquired a new position in shares of BlackBerry during the fourth quarter valued at $40,000. Bravias Capital Group LLC bought a new stake in shares of BlackBerry during the fourth quarter valued at about $45,000. Finally, Palacios Wealth Management LLC acquired a new stake in BlackBerry in the fourth quarter worth about $50,000. Institutional investors own 54.48% of the company’s stock.

Insider Activity at BlackBerry

In related news, CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction 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 through this link. Also, CEO John Joseph Giamatteo sold 29,402 shares of BlackBerry stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $117,608.00. Following the completion of the transaction, the chief executive officer now owns 490,761 shares in the company, valued at $1,963,044. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,388 shares of company stock valued at $288,882. Insiders own 0.34% of the company’s stock.

BlackBerry Stock Performance

BB stock opened at $3.01 on Friday. The firm has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $3.51. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The stock has a market cap of $1.79 billion, a P/E ratio of -13.66 and a beta of 1.30. 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 (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $137.56 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. Research analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BB. StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday. Robert W. Baird boosted their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Canaccord Genuity Group decreased their target price on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research note on Thursday. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, CIBC cut their price target on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, BlackBerry currently has an average rating of “Hold” and an average price target of $4.15.

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.