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

Millennium Management LLC cut its stake in BlackBerry Limited (NYSE:BB - Free Report) by 26.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,470,854 shares of the company's stock after selling 892,405 shares during the period. Millennium Management LLC owned about 0.42% of BlackBerry worth $9,351,000 as of its most recent SEC filing.

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

BlackBerry Trading Up 10.4%

Shares of BlackBerry stock traded up $0.39 during trading on Tuesday, reaching $4.15. 19,665,090 shares of the stock were exchanged, compared to its average volume of 13,966,021. 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 firm has a market cap of $2.47 billion, a price-to-earnings ratio of -18.86 and a beta of 1.42. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24. The stock's fifty day moving average is $3.56 and its 200 day moving average is $3.80.

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, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $141.70 million during the quarter, compared to analysts' expectations of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business's revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. As a group, equities research analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BB has been the topic of several recent research reports. Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a report on Thursday, April 3rd. Wall Street Zen raised BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Canaccord Genuity Group decreased their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Finally, CIBC dropped their target price on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.12.

Insider Buying and Selling

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 owns 42,398 shares in the company, valued at $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 37,216 shares of company stock valued at $112,025 over the last quarter. 0.34% of the stock is owned by company insiders.

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.