Virtu Financial LLC Has $902,000 Holdings in BlackBerry Limited (NYSE:BB)

Key Points

• Virtu Financial LLC has reduced its stake in BlackBerry Limited by 22.7%, owning 239,324 shares valued at approximately $902,000 as of the most recent filing with the SEC.
• Several institutional investors, such as Hood River Capital Management and Connor Clark & Lunn Investment Management, have significantly increased their positions in BlackBerry during the first quarter.
• Despite reporting a positive $0.02 earnings per share, BlackBerry's revenue has decreased by 15.5% compared to the same quarter last year, highlighting ongoing challenges for the company.

Virtu Financial LLC cut its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,324 shares of the company's stock after selling 70,259 shares during the period. Virtu Financial LLC's holdings in BlackBerry were worth $902,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BB. Hood River Capital Management LLC acquired a new position in shares of BlackBerry during the fourth quarter worth $53,267,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BlackBerry by 69.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock worth $87,064,000 after buying an additional 9,442,676 shares in the last quarter. NewGen Asset Management Ltd acquired a new position in shares of BlackBerry during the fourth quarter worth $14,282,000. Two Sigma Investments LP increased its holdings in shares of BlackBerry by 293.7% during the fourth quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company's stock worth $17,207,000 after buying an additional 3,395,786 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of BlackBerry by 163.7% during the first quarter. TD Asset Management Inc now owns 4,349,647 shares of the company's stock worth $16,380,000 after buying an additional 2,700,319 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BB has been the subject of a number of recent research reports. Canaccord Genuity Group increased their price objective on BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded BlackBerry from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada increased their price objective on BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Robert W. Baird increased their price objective on BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Finally, CIBC restated an "outperform" rating on shares of BlackBerry in a report on Tuesday, June 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, BlackBerry currently has an average rating of "Hold" and an average target price of $4.60.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $3.66 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $4.08 and a two-hundred day moving average price of $4.11. BlackBerry Limited has a 1-year low of $2.17 and a 1-year high of $6.24. The company has a market cap of $2.18 billion, a P/E ratio of -61.00 and a beta of 1.49.

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

Insider Transactions at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 16,217 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the sale, the insider directly owned 57,503 shares in the company, valued at approximately $301,890.75. This trade represents a 22.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the transaction, the chief executive officer directly owned 530,135 shares in the company, valued at $2,290,183.20. This trade represents a 4.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,417 shares of company stock valued at $267,524. Company insiders own 0.37% of the company's stock.

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.

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