Geode Capital Management LLC Raises Stake in BlackBerry Limited (NYSE:BB)

Geode Capital Management LLC grew its stake in shares of BlackBerry Limited (NYSE:BB) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 267,073 shares of the company’s stock after acquiring an additional 7,652 shares during the period. Geode Capital Management LLC’s holdings in BlackBerry were worth $706,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new stake in shares of BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of BlackBerry by 83.3% in 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. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry in the 3rd quarter worth about $38,000. Signaturefd LLC boosted its position in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares in the last quarter. Finally, Creative Planning boosted its position in shares of BlackBerry by 40.8% in the 3rd quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after buying an additional 10,585 shares in the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BB. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $3.25 to $4.00 in a research 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 research report on Friday. Robert W. Baird boosted their price objective 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. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BlackBerry has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

Insider Activity

In related news, insider Mattias Eriksson sold 14,475 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the completion of the sale, the insider now owns 238,838 shares of the company’s stock, valued at approximately $878,923.84. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Joseph Giamatteo sold 29,402 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $117,608.00. Following the sale, the chief executive officer now directly owns 490,761 shares of the company’s stock, valued at approximately $1,963,044. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,796 shares of company stock valued at $823,314 in the last 90 days. 0.34% of the stock is currently owned by insiders.

BlackBerry Stock Performance

NYSE BB opened at $4.05 on Friday. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.35. The company has a 50-day moving average of $3.00 and a 200-day moving average of $2.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $2.40 billion, a P/E ratio of -16.20 and a beta of 1.30.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same quarter in the prior year, the company posted $0.01 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current 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.