XTX Topco Ltd Has $108,000 Position in BlackBerry Limited $BB

Key Points

• XTX Topco Ltd reduced its stake in BlackBerry Limited by 72.5%, selling 75,821 shares and leaving it with 28,710 shares valued at approximately $108,000.
• Insider activity includes significant sales, with CEO John Joseph Giamatteo selling 26,998 shares, representing a 4.85% decrease in his position.
• BlackBerry reported a quarterly revenue of $121.26 million, surpassing expectations, although it reflects a 15.5% year-over-year decline.

XTX Topco Ltd decreased its position in BlackBerry Limited (NYSE:BB - Free Report) by 72.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,710 shares of the company's stock after selling 75,821 shares during the period. XTX Topco Ltd's holdings in BlackBerry were worth $108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its holdings in BlackBerry by 10.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock valued at $145,000 after purchasing an additional 3,755 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 3,811 shares during the period. Invesco Ltd. increased its stake in shares of BlackBerry by 3.8% in the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company's stock valued at $435,000 after acquiring an additional 4,226 shares during the last quarter. Advisory Services Network LLC raised its position in shares of BlackBerry by 6.6% in the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company's stock valued at $268,000 after acquiring an additional 4,375 shares during the period. Finally, Parallel Advisors LLC boosted its stake in BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after acquiring an additional 4,893 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Down 1.7%

Shares of BB traded down $0.07 during midday trading on Tuesday, hitting $3.69. The stock had a trading volume of 1,985,817 shares, compared to its average volume of 17,556,438. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -61.42 and a beta of 1.49. The company has a 50 day simple moving average of $4.05 and a two-hundred day simple moving average of $4.09. BlackBerry Limited has a twelve month low of $2.22 and a twelve month high of $6.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10.

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

Analysts Set New Price Targets

BB has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of BlackBerry from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Canaccord Genuity Group upped their price objective on shares of BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a research report on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Robert W. Baird lifted their target price on BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Finally, Royal Bank Of Canada increased their price target on BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a report on Friday, June 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of "Hold" and a consensus price target of $4.60.

Insider Buying and Selling

In related news, insider Philip S. Kurtz sold 16,217 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the transaction, the insider owned 57,503 shares in the company, valued at approximately $301,890.75. This represents a 22.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Joseph Giamatteo sold 26,998 shares of BlackBerry stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total transaction of $116,631.36. Following the completion of the sale, the chief executive officer owned 530,135 shares in the company, valued at $2,290,183.20. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,417 shares of company stock worth $267,524 over the last quarter. 0.37% of the stock is owned by corporate 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.