BlackBerry Limited (NYSE:BB) Stake Decreased by Tobam

Tobam lessened its holdings in shares of BlackBerry Limited (NYSE:BB) by 81.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,553 shares of the company’s stock after selling 119,353 shares during the period. Tobam’s holdings in BlackBerry were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BB. Optiver Holding B.V. bought a new stake in shares of BlackBerry during the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of BlackBerry during the third quarter valued at approximately $28,000. Highlander Capital Management LLC raised its holdings in BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares in the last quarter. Virtu Financial LLC bought a new stake in BlackBerry during the fourth quarter worth approximately $36,000. Finally, Tower Research Capital LLC TRC raised its holdings in BlackBerry by 470.1% during the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock worth $43,000 after purchasing an additional 7,437 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other BlackBerry news, Director Philip G. Brace purchased 35,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $2.79 per share, with a total value of $97,650.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately $97,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.94% of the company’s stock.

BlackBerry Stock Up 3.1 %

NYSE BB opened at $3.20 on Friday. BlackBerry Limited has a 1-year low of $2.46 and a 1-year high of $5.75. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $3.37.

BlackBerry (NYSE:BB) last posted its earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. Analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

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.