Cubist Systematic Strategies LLC Sells 683,180 Shares of BlackBerry Limited (NYSE:BB)

Cubist Systematic Strategies LLC reduced its holdings in shares of BlackBerry Limited (NYSE:BB - Free Report) by 47.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,448 shares of the company's stock after selling 683,180 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.13% of BlackBerry worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BB. Geode Capital Management LLC boosted its stake in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company's stock worth $706,000 after purchasing an additional 7,652 shares during the last quarter. Barclays PLC boosted its position in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company's stock worth $652,000 after acquiring an additional 93,651 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of BlackBerry in the fourth quarter worth approximately $65,000. Foundations Investment Advisors LLC acquired a new stake in shares of BlackBerry in the fourth quarter worth approximately $95,000. Finally, Masso Torrence Wealth Management Inc. acquired a new position in BlackBerry during the fourth quarter valued at approximately $38,000. 54.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BB has been the topic of a number of recent research reports. Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research report on Thursday, April 3rd. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, CIBC dropped 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. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $4.12.

Insiders Place Their Bets

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now owns 42,398 shares in the company, valued at approximately $126,770.02. The trade was a 41.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 37,216 shares of company stock worth $112,025. 0.34% of the stock is owned by corporate insiders.

BlackBerry Stock Performance

BlackBerry stock traded up $0.02 during mid-day trading on Friday, reaching $3.91. The company's stock had a trading volume of 3,573,194 shares, compared to its average volume of 13,802,034. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -17.75 and a beta of 1.42. The business has a 50 day moving average price of $3.65 and a 200-day moving average price of $3.70. 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 Limited has a twelve month low of $2.01 and a twelve month high of $6.24.

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