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

A number of other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in shares of 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 purchasing an additional 4,893 shares during the period. Tower Research Capital LLC TRC grew its stake 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 purchasing an additional 3,811 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of BlackBerry during the 1st quarter worth approximately $40,000. Benjamin Edwards Inc. acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $42,000. Finally, Zacks Investment Management acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $62,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 16,217 shares of BlackBerry 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 sale, the insider owned 57,503 shares of the company's stock, valued at $301,890.75. The trade was a 22.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Joseph Giamatteo sold 26,998 shares of BlackBerry stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the sale, the chief executive officer directly owned 530,135 shares in the company, valued at approximately $2,290,183.20. This trade represents a 4.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,417 shares of company stock worth $267,524. 0.37% of the stock is currently owned by corporate insiders.

BlackBerry Price Performance

BlackBerry stock opened at $3.69 on Friday. The company's fifty day moving average price is $4.07 and its 200 day moving average price is $4.10. BlackBerry Limited has a 1 year low of $2.22 and a 1 year high of $6.24. The stock has a market capitalization of $2.19 billion, a P/E ratio of -61.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BB shares. Wall Street Zen cut shares of BlackBerry from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Robert W. Baird raised their price objective on shares of BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a research note on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada lifted their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research note on Friday, June 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $4.60.

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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