Potrero Capital Research LLC purchased a new position in shares of BlackBerry Limited (NYSE:BB – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 900,300 shares of the company’s stock, valued at approximately $2,359,000. BlackBerry makes up about 0.7% of Potrero Capital Research LLC’s holdings, making the stock its 26th largest position. Potrero Capital Research LLC owned about 0.15% of BlackBerry as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management acquired a new position in shares of BlackBerry during the 2nd quarter worth $43,000. Viewpoint Capital Management LLC acquired a new position in BlackBerry in the 2nd quarter worth about $50,000. Finally, International Assets Investment Management LLC increased its holdings in BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on BB. Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a report on Friday, September 27th. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BlackBerry presently has a consensus rating of “Hold” and an average target price of $3.23.
BlackBerry Trading Down 0.6 %
Shares of BB stock opened at $2.55 on Wednesday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -10.18 and a beta of 1.43. The stock has a 50-day moving average of $2.44 and a 200-day moving average of $2.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.44.
BlackBerry (NYSE:BB – Get Free Report) last announced its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that BlackBerry Limited will post -0.06 earnings per share for the current year.
Insider Activity at BlackBerry
In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. This represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.
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 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.
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