Cubist Systematic Strategies LLC Sells 683,180 Shares of BlackBerry Limited (NYSE:BB)

Cubist Systematic Strategies LLC lessened its stake in shares of BlackBerry Limited (NYSE:BB) by 47.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 762,448 shares of the company’s stock after selling 683,180 shares during the period. Cubist Systematic Strategies LLC’s holdings in BlackBerry were worth $2,883,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after buying an additional 3,811 shares in the last quarter. Masso Torrence Wealth Management Inc. purchased a new position in BlackBerry during the fourth quarter valued at approximately $38,000. Mindset Wealth Management LLC bought a new position in shares of BlackBerry in the fourth quarter worth approximately $38,000. Quadrant Capital Group LLC increased its stake in shares of BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of BlackBerry during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 37,216 shares of company stock valued at $112,025. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

BB has been the subject of several recent analyst reports. CIBC dropped their target price on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 target price on BlackBerry in a research report on Thursday, April 3rd. Canaccord Genuity Group decreased their target price on BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.12.

BlackBerry Price Performance

Shares of BB opened at $3.80 on Friday. 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 stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -17.27 and a beta of 1.42. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24. The business’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $3.67.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. BlackBerry’s revenue was down 7.3% on a year-over-year basis. As a group, equities analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

BlackBerry 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.