Ballentine Partners LLC Takes $65,000 Position in BlackBerry Limited (NYSE:BB)

Ballentine Partners LLC acquired a new position in BlackBerry Limited (NYSE:BB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,240 shares of the company’s stock, valued at approximately $65,000.

Several other large investors have also made changes to their positions in the business. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry during the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its stake in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the period. Quantinno Capital Management LP acquired a new position in BlackBerry in the 3rd quarter valued at approximately $38,000. Signaturefd LLC lifted its position in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares during the period. Finally, Creative Planning grew its holdings in shares of BlackBerry by 40.8% during the 3rd quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Performance

BB stock opened at $4.17 on Monday. The stock has a market capitalization of $2.46 billion, a PE ratio of -18.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day moving average price of $3.34 and a 200 day moving average price of $2.72. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.35.

BlackBerry (NYSE:BB) last announced 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. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same period last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts forecast that BlackBerry Limited will post -0.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mattias Eriksson sold 12,680 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Joseph Giamatteo sold 29,402 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the transaction, the chief executive officer now directly owns 490,761 shares of the company’s stock, valued at $1,963,044. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,796 shares of company stock worth $823,314. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC increased their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their target price on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada upped their price target on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Six equities research 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 company’s stock. According to MarketBeat, BlackBerry currently has a consensus rating of “Moderate Buy” and an average target price 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.