Breakwater Capital Group Buys New Stake in BlackBerry Limited (NYSE:BB)

Breakwater Capital Group purchased a new position in BlackBerry Limited (NYSE:BB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,800 shares of the company’s stock, valued at approximately $107,000.

Several other institutional investors have also modified their holdings of BB. Optiver Holding B.V. acquired a new position in shares of BlackBerry in the third quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in shares of BlackBerry in the third quarter worth $28,000. Virtu Financial LLC acquired a new position in shares of BlackBerry in the fourth quarter worth $36,000. Tower Research Capital LLC TRC grew its stake in shares of BlackBerry by 470.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock worth $43,000 after acquiring an additional 7,437 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of BlackBerry in the third quarter worth $48,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

Insider Transactions at BlackBerry

In other news, CFO Steve Rai sold 20,047 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.25, for a total transaction of $65,152.75. Following the completion of the sale, the chief financial officer now owns 84,599 shares in the company, valued at $274,946.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John Joseph Giamatteo sold 18,279 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.23, for a total transaction of $59,041.17. Following the completion of the transaction, the chief executive officer now directly owns 206,090 shares of the company’s stock, valued at $665,670.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steve Rai sold 20,047 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $3.25, for a total transaction of $65,152.75. Following the transaction, the chief financial officer now directly owns 84,599 shares of the company’s stock, valued at $274,946.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,090 shares of company stock worth $142,812. Company insiders own 1.94% of the company’s stock.

BlackBerry Stock Performance

Shares of NYSE:BB opened at $2.83 on Friday. BlackBerry Limited has a one year low of $2.46 and a one year high of $5.75. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -11.77 and a beta of 1.41. The company has a 50-day simple moving average of $2.76 and a 200-day simple moving average of $3.42.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business had revenue of $173.00 million during the quarter, compared to the consensus estimate of $150.47 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, research analysts forecast that BlackBerry Limited will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BB shares. Raymond James dropped their price target on shares of BlackBerry from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Thursday, December 21st. StockNews.com cut shares of BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $5.00 to $4.25 and set a “hold” rating for the company in a research report on Thursday, December 21st. TD Securities decreased their price objective on shares of BlackBerry from $4.00 to $3.75 and set a “hold” rating for the company in a research report on Thursday, December 21st. Finally, Robert W. Baird decreased their price objective on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.08.

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.