BlackBerry Limited (NYSE:BB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its stake in BlackBerry Limited (NYSE:BB) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 344,570 shares of the company’s stock after selling 4,500 shares during the period. Kovack Advisors Inc.’s holdings in BlackBerry were worth $903,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the last quarter. International Assets Investment Management LLC increased its holdings in BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the last quarter. Signaturefd LLC increased its holdings in BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares during the period. Finally, Creative Planning lifted its stake in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

Insider Buying and Selling

In other news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $2.44 on Thursday. The business has a 50-day simple moving average of $2.42 and a 200-day simple moving average of $2.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.44. The company has a market cap of $1.44 billion, a PE ratio of -9.76 and a beta of 1.42.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

BB has been the subject of a number of research reports. CIBC lifted their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group increased their price target on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.23.

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.