Oppenheimer & Co. Inc. Trims Stake in BlackBerry Limited (NYSE:BB)

Oppenheimer & Co. Inc. reduced its position in shares of BlackBerry Limited (NYSE:BB) by 88.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 35,018 shares of the company’s stock after selling 272,120 shares during the period. Oppenheimer & Co. Inc.’s holdings in BlackBerry were worth $92,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new position in shares of BlackBerry in the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $29,000 after acquiring an additional 5,349 shares during the period. Werba Rubin Papier Wealth Management purchased a new position in shares of BlackBerry in the 2nd quarter valued at $43,000. Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry in the 2nd quarter valued at $50,000. Finally, Signaturefd LLC increased its holdings in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the period. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. Canaccord Genuity Group lifted their price target on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. CIBC boosted their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com downgraded BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BlackBerry has a consensus rating of “Hold” and a consensus target price of $3.23.

BlackBerry Stock Up 1.3 %

Shares of BB stock opened at $2.35 on Friday. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.44. The stock’s fifty day moving average price is $2.41 and its 200 day moving average price is $2.48. 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 $1.39 billion, a price-to-earnings ratio of -9.40 and a beta of 1.42.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $138.82 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by 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.