Belpointe Asset Management LLC Purchases 2,355 Shares of BlackBerry Limited (NYSE:BB)

Posted by on May 20th, 2023

Belpointe Asset Management LLC boosted its position in BlackBerry Limited (NYSE:BB – Get Rating) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,162 shares of the company’s stock after buying an additional 2,355 shares during the period. Belpointe Asset Management LLC’s holdings in BlackBerry were worth $102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in BlackBerry during the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC raised its holdings in shares of BlackBerry by 470.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock worth $43,000 after purchasing an additional 7,437 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of BlackBerry in the 1st quarter worth approximately $76,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in BlackBerry by 62.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 12,876 shares of the company’s stock valued at $95,000 after acquiring an additional 4,974 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in BlackBerry during the 1st quarter valued at $96,000. 42.43% of the stock is owned by institutional investors.

Insider Transactions at BlackBerry

In related news, insider Marjorie Dickman sold 28,237 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $4.63, for a total value of $130,737.31. Following the completion of the transaction, the insider now directly owns 35,372 shares of the company’s stock, valued at $163,772.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BB has been the topic of a number of analyst reports. 3M reissued a “maintains” rating on shares of BlackBerry in a report on Thursday. Robert W. Baird boosted their target price on shares of BlackBerry from $5.00 to $5.50 in a report on Thursday. Royal Bank of Canada upped their price target on shares of BlackBerry from $4.25 to $5.00 in a report on Thursday. TD Securities raised shares of BlackBerry from a “reduce” rating to a “hold” rating and upped their price target for the stock from $3.75 to $4.00 in a report on Friday, March 31st. Finally, StockNews.com began coverage on shares of BlackBerry in a report on Thursday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, BlackBerry presently has a consensus rating of “Hold” and a consensus target price of $5.50.

BlackBerry Stock Down 0.6 %

NYSE BB opened at $5.38 on Friday. The company has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $4.15. BlackBerry Limited has a 12-month low of $3.17 and a 12-month high of $7.20. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -3.90 and a beta of 1.59.

BlackBerry (NYSE:BB – Get Rating) last posted its quarterly earnings results on Friday, March 31st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. BlackBerry had a negative net margin of 111.89% and a negative return on equity of 10.91%. The business had revenue of $151.00 million during the quarter, compared to analyst estimates of $150.97 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue was down 18.4% on a year-over-year basis. Equities analysts expect that BlackBerry Limited will post -0.19 earnings per share for the current fiscal year.

BlackBerry Profile

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BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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