Baader Bank Aktiengesellschaft Purchases New Shares in BlackBerry Limited (NYSE:BB)

Key Points

• Baader Bank Aktiengesellschaft has acquired 283,251 shares of BlackBerry Limited, marking a new investment valued at approximately $1.07 million.
• Insider transactions show that CEO John Joseph Giamatteo and insider Philip S. Kurtz have sold a total of 43,215 shares in recent weeks, indicating significant shifts in individual holdings.
• BlackBerry reported a positive EPS of $0.02 for the last quarter, surpassing estimates, although the company's revenue decreased by 15.5% compared to the previous year.

Baader Bank Aktiengesellschaft bought a new stake in shares of BlackBerry Limited (NYSE:BB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 283,251 shares of the company's stock, valued at approximately $1,067,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BB. Parallel Advisors LLC boosted its holdings in BlackBerry by 216.2% during the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after buying an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after acquiring an additional 3,811 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of BlackBerry by 100.3% in the 4th 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 during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of BlackBerry during the first quarter worth $40,000. Finally, HighTower Advisors LLC purchased a new stake in shares of BlackBerry during the fourth quarter valued at $41,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John Joseph Giamatteo sold 26,998 shares of BlackBerry stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total value of $116,631.36. Following the transaction, the chief executive officer owned 530,135 shares of the company's stock, valued at $2,290,183.20. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip S. Kurtz sold 16,217 shares of BlackBerry stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total transaction of $85,139.25. Following the sale, the insider owned 57,503 shares of the company's stock, valued at $301,890.75. The trade was a 22.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,417 shares of company stock valued at $267,524. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BB shares. Canaccord Genuity Group raised their price objective on BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Robert W. Baird boosted their target price on shares of BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada boosted their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, CIBC restated an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, BlackBerry has a consensus rating of "Moderate Buy" and a consensus target price of $4.60.

BlackBerry Price Performance

BB traded down $0.09 during trading on Friday, reaching $3.60. The stock had a trading volume of 8,734,474 shares, compared to its average volume of 8,565,076. The business has a 50-day moving average of $4.13 and a 200-day moving average of $4.13. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $2.14 billion, a PE ratio of -60.00 and a beta of 1.49.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $121.26 million during the quarter, compared to analyst estimates of $112.18 million. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. BlackBerry's quarterly revenue was down 15.5% compared to the same quarter last year. During the same period last year, the business posted ($0.03) earnings per share. As a group, equities research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

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.