LPL Financial LLC Buys 92,738 Shares of BlackBerry Limited (NYSE:BB)

LPL Financial LLC increased its holdings in shares of BlackBerry Limited (NYSE:BB - Free Report) by 92.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,824 shares of the company's stock after buying an additional 92,738 shares during the period. LPL Financial LLC's holdings in BlackBerry were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Swiss National Bank grew its holdings in BlackBerry by 0.6% during the fourth quarter. Swiss National Bank now owns 1,109,350 shares of the company's stock valued at $4,212,000 after purchasing an additional 6,700 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company's stock valued at $706,000 after buying an additional 7,652 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of BlackBerry by 1.3% in the fourth quarter. CIBC Asset Management Inc now owns 709,720 shares of the company's stock valued at $2,690,000 after buying an additional 8,787 shares during the period. Signaturefd LLC boosted its holdings in shares of BlackBerry by 39.9% in the fourth quarter. Signaturefd LLC now owns 32,032 shares of the company's stock valued at $121,000 after buying an additional 9,134 shares during the period. Finally, Masso Torrence Wealth Management Inc. acquired a new position in shares of BlackBerry in the fourth quarter valued at approximately $38,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Performance

NYSE BB traded up $0.02 on Monday, hitting $3.40. 8,985,504 shares of the stock were exchanged, compared to its average volume of 13,892,306. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The business's fifty day moving average is $3.94 and its 200 day moving average is $3.61. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The company has a market capitalization of $2.03 billion, a PE ratio of -15.45 and a beta of 1.30.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company's quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. Research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BB has been the subject of several research analyst reports. Canaccord Genuity Group reduced their price target on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a report on Thursday, April 3rd. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Friday, April 11th. CIBC reduced their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BlackBerry currently has a consensus rating of "Hold" and a consensus price target of $4.12.

Insider Activity

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 directly 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 filing with the SEC, which is accessible through this link. Insiders have sold 37,216 shares of company stock valued at $112,025 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.