Bayesian Capital Management LP Buys Shares of 227,400 BlackBerry Limited (NYSE:BB)

Bayesian Capital Management LP purchased a new stake in shares of BlackBerry Limited (NYSE:BB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 227,400 shares of the company's stock, valued at approximately $860,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after purchasing an additional 3,811 shares during the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry during the fourth quarter worth about $38,000. Mindset Wealth Management LLC purchased a new position in BlackBerry in the 4th quarter valued at approximately $38,000. Quadrant Capital Group LLC grew its stake in shares of BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after acquiring an additional 5,008 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BlackBerry during the fourth quarter worth $40,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BB. Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a research note on Thursday, April 3rd. Canaccord Genuity Group cut their price target on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. CIBC lowered their price objective on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $4.12.

Insider Buying and Selling

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 37,216 shares of company stock valued at $112,025 over the last quarter. Company insiders own 0.34% of the company's stock.

BlackBerry Price Performance

Shares of NYSE:BB opened at $3.60 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. The company has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $3.64. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -16.34 and a beta of 1.42.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million during the quarter, compared to analysts' expectations of $137.56 million. During the same quarter last year, the business earned $0.03 EPS. The business's revenue was down 7.3% on a year-over-year basis. On average, analysts predict that BlackBerry Limited will post -0.03 EPS 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.

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