Cubist Systematic Strategies LLC Trims Position in BlackBerry Limited (NYSE:BB)

Cubist Systematic Strategies LLC lessened its holdings in shares of BlackBerry Limited (NYSE:BB) by 47.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,448 shares of the company’s stock after selling 683,180 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.13% of BlackBerry worth $2,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BB. Tower Research Capital LLC TRC raised its position 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 acquiring an additional 3,811 shares in the last quarter. Masso Torrence Wealth Management Inc. bought a new position in BlackBerry in the fourth quarter worth $38,000. Mindset Wealth Management LLC purchased a new position in BlackBerry during the fourth quarter valued at $38,000. Quadrant Capital Group LLC lifted 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 buying an additional 5,008 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of BlackBerry during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BB shares. CIBC lowered their price target on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a report on Thursday, April 3rd. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Canaccord Genuity Group lowered their price objective on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.12.

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, the senior vice president now owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 37,216 shares of company stock worth $112,025 over the last quarter. Company insiders own 0.34% of the company’s stock.

BlackBerry Price Performance

BlackBerry stock opened at $3.80 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -17.27 and a beta of 1.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The stock has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $3.67.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. Equities analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

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.