Millennium Management LLC Sells 892,405 Shares of BlackBerry Limited (NYSE:BB)

Millennium Management LLC trimmed its holdings in shares of BlackBerry Limited (NYSE:BB - Free Report) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,470,854 shares of the company's stock after selling 892,405 shares during the quarter. Millennium Management LLC owned approximately 0.42% of BlackBerry worth $9,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in 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 during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of BlackBerry during the 4th quarter valued at $38,000. Mindset Wealth Management LLC purchased a new position in shares of BlackBerry during the 4th quarter valued at $38,000. Quadrant Capital Group LLC lifted its stake 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 buying an additional 5,008 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in BlackBerry in the 4th quarter worth $40,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 37,216 shares of company stock worth $112,025 over the last quarter. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada set a $3.75 price objective on BlackBerry in a research report on Thursday, April 3rd. CIBC lowered their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen raised shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Finally, Canaccord Genuity Group reduced their price objective on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Six investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.12.

BlackBerry Stock Performance

BlackBerry stock opened at $3.77 on Monday. The company's 50-day moving average price is $3.58 and its 200-day moving average price is $3.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.25 billion, a PE ratio of -17.12 and a beta of 1.42. 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 released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $137.56 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company's revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

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.

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