Sanctuary Advisors LLC Takes $40,000 Position in BlackBerry Limited (NYSE:BB)

Sanctuary Advisors LLC acquired a new stake in BlackBerry Limited (NYSE:BB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,477 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP acquired a new stake in BlackBerry during the 3rd quarter worth $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry during the 4th quarter worth $38,000. Palacios Wealth Management LLC acquired a new stake in BlackBerry during the 4th quarter worth $50,000. Ballentine Partners LLC acquired a new stake in BlackBerry during the 4th quarter worth $65,000. Finally, Foundations Investment Advisors LLC acquired a new stake in BlackBerry during the 4th quarter worth $95,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, January 10th. Finally, TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

Insider Buying and Selling

In related news, CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $102,340.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,221 shares of company stock valued at $925,655. Corporate insiders own 0.34% of the company’s stock.

BlackBerry Stock Down 5.3 %

Shares of NYSE:BB opened at $4.41 on Friday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -20.02 and a beta of 1.27. The firm’s 50-day simple moving average is $4.57 and its 200-day simple moving average is $3.24. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, equities research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current 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.