BlackBerry Limited (NYSE:BB) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of BlackBerry Limited (NYSE:BB) by 76.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,274 shares of the company’s stock after selling 43,450 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in BlackBerry were worth $35,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FIFTHDELTA Ltd increased its holdings in shares of BlackBerry by 2.3% in the 1st quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock worth $86,940,000 after acquiring an additional 710,015 shares during the period. Vanguard Group Inc. increased its holdings in shares of BlackBerry by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock worth $53,835,000 after acquiring an additional 149,444 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of BlackBerry by 25.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock worth $34,343,000 after acquiring an additional 2,536,966 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of BlackBerry by 132.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock worth $16,631,000 after acquiring an additional 3,458,275 shares during the period. Finally, Millennium Management LLC increased its holdings 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 worth $8,510,000 after acquiring an additional 3,369,296 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

BlackBerry Price Performance

NYSE BB opened at $2.44 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.76 and a beta of 1.42. The company has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $2.50. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.44.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. Equities research analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity Group increased their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th. Finally, CIBC increased their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.23.

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.