Benjamin Edwards Inc. Invests $42,000 in BlackBerry Limited (NYSE:BB)

Benjamin Edwards Inc. purchased a new position in shares of BlackBerry Limited (NYSE:BB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,100 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BB. Tower Research Capital LLC TRC increased its position in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after acquiring an additional 3,811 shares during the period. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry in the 4th quarter valued at approximately $38,000. Mindset Wealth Management LLC acquired a new stake in BlackBerry in the 4th quarter valued at approximately $38,000. Quadrant Capital Group LLC increased its position in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after acquiring an additional 5,008 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in BlackBerry in the 4th quarter valued at approximately $40,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

BlackBerry Stock Performance

BB opened at $3.80 on Monday. The firm has a market cap of $2.27 billion, a PE ratio of -17.27 and a beta of 1.42. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $3.67. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $141.70 million during 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 company’s revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. As a group, equities analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the sale, the senior vice president now owns 42,398 shares of the company’s stock, valued at $126,770.02. This trade represents a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 37,216 shares of company stock valued at $112,025 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.