HighTower Advisors LLC Invests $41,000 in BlackBerry Limited (NYSE:BB)

HighTower Advisors LLC bought a new stake in BlackBerry Limited (NYSE:BB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,733 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BB. Charles Schwab Investment Management Inc. raised its position in BlackBerry by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after purchasing an additional 11,899 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of BlackBerry by 10.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock valued at $1,284,000 after purchasing an additional 46,101 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of BlackBerry by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of BlackBerry during the 3rd quarter worth approximately $38,000. Finally, State Street Corp boosted its stake in BlackBerry by 1.9% in the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after buying an additional 24,309 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BB has been the subject of several recent analyst reports. CIBC dropped their price objective on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research note on Thursday. Robert W. Baird increased their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Canaccord Genuity Group reduced their price target on shares of BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research report on Thursday. StockNews.com lowered shares of BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.15.

BlackBerry Price Performance

Shares of BB stock opened at $3.01 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -13.66 and a beta of 1.30. The firm’s 50 day moving average is $4.63 and its 200-day moving average is $3.51. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. Sell-side analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares in the company, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Insiders sold a total of 71,388 shares of company stock worth $288,882 over the last three months. 0.34% of the stock is currently owned by company insiders.

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.