Milestone Asset Management LLC Purchases 81,210 Shares of BlackBerry Limited (NYSE:BB)

Milestone Asset Management LLC boosted its stake in BlackBerry Limited (NYSE:BB - Free Report) by 55.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,658 shares of the company's stock after purchasing an additional 81,210 shares during the period. Milestone Asset Management LLC's holdings in BlackBerry were worth $862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after acquiring an additional 4,893 shares during the period. Tower Research Capital LLC TRC increased its position 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 acquiring an additional 3,811 shares during the period. Mindset Wealth Management LLC acquired a new position in BlackBerry in the 4th quarter valued at approximately $38,000. Quadrant Capital Group LLC increased its position in shares of BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after buying an additional 5,008 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of BlackBerry during the fourth quarter worth $40,000. Institutional investors own 54.48% of the company's stock.

Insider Buying and Selling at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 37,216 shares of company stock valued at $112,025. Corporate insiders own 0.37% of the company's stock.

BlackBerry Stock Up 2.5%

NYSE BB traded up $0.10 on Thursday, hitting $4.11. 12,032,593 shares of the company were exchanged, compared to its average volume of 14,042,402. The company has a market cap of $2.45 billion, a PE ratio of -18.68 and a beta of 1.42. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The stock has a fifty day moving average of $3.54 and a 200-day moving average of $3.85. 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 (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, beating analysts' consensus estimates 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 firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. During the same period last year, the firm earned $0.03 earnings per share. The business's quarterly revenue was down 7.3% compared to the same quarter last year. As a group, analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

BB has been the subject of several recent analyst reports. CIBC decreased their price objective on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research report on Thursday, April 3rd. Wall Street Zen upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research report on Thursday, April 3rd. Six 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's stock. Based on data from MarketBeat, BlackBerry presently has a consensus rating of "Hold" and an average price target of $4.12.

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.