Barclays PLC Sells 117,257 Shares of BlackBerry Limited (NYSE:BB)

Barclays PLC cut its stake in BlackBerry Limited (NYSE:BB - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,961 shares of the company's stock after selling 117,257 shares during the quarter. Barclays PLC's holdings in BlackBerry were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BB. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry during the fourth quarter valued at $38,000. Mindset Wealth Management LLC purchased a new stake in shares of BlackBerry in the 4th quarter valued at about $38,000. Quadrant Capital Group LLC boosted its position in shares of BlackBerry by 100.3% during 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 last quarter. Sanctuary Advisors LLC bought a new stake in shares of BlackBerry during the 4th quarter valued at about $40,000. Finally, HighTower Advisors LLC purchased a new position in shares of BlackBerry during the fourth quarter worth about $41,000. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Stock Performance

BlackBerry stock traded down $0.02 during trading on Wednesday, reaching $3.90. The company had a trading volume of 3,181,020 shares, compared to its average volume of 21,260,410. The firm's 50-day simple moving average is $3.67 and its 200 day simple moving average is $3.69. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -17.70 and a beta of 1.42.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business's quarterly revenue was down 7.3% compared to the same quarter last year. Sell-side analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. CIBC cut their price target on shares of 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. Royal Bank of Canada set a $3.75 target price on BlackBerry in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group lowered their price objective on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.12.

Insider Buying and Selling

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 37,216 shares of company stock worth $112,025. 0.34% of the stock is owned by insiders.

About BlackBerry

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.