Mindset Wealth Management LLC Makes New Investment in BlackBerry Limited (NYSE:BB)

Mindset Wealth Management LLC purchased a new position in BlackBerry Limited (NYSE:BB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP bought a new stake in shares of BlackBerry in the 3rd quarter valued at about $38,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry in the fourth quarter valued at $38,000. Sanctuary Advisors LLC purchased a new position in BlackBerry during the 4th quarter valued at $40,000. HighTower Advisors LLC bought a new position in BlackBerry in the 4th quarter worth $41,000. Finally, Bravias Capital Group LLC purchased a new stake in shares of BlackBerry in the 4th quarter worth about $45,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Trading Down 1.2 %

BlackBerry stock opened at $4.42 on Friday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -20.07 and a beta of 1.27. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24. The firm has a 50 day moving average of $4.68 and a 200 day moving average of $3.39. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BB has been the subject of a number of research reports. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird increased their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, January 10th. Canaccord Genuity Group increased their target price on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research note on Tuesday, March 11th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BlackBerry presently has a consensus rating of “Moderate Buy” and an average price target of $3.91.

Insider Buying and Selling

In other news, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the sale, the insider now owns 278,306 shares in the company, valued at $1,113,224. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,221 shares of company stock valued at $925,655. Corporate insiders own 0.34% of the company’s stock.

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.