Fortune Financial Advisors LLC Reduces Position in BlackBerry Limited (NYSE:BB)

Fortune Financial Advisors LLC trimmed its stake in BlackBerry Limited (NYSE:BB) by 25.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,400 shares of the company’s stock after selling 5,500 shares during the period. Fortune Financial Advisors LLC’s holdings in BlackBerry were worth $43,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FIFTHDELTA Ltd raised its stake in BlackBerry by 2.3% during the 1st quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock worth $86,940,000 after acquiring an additional 710,015 shares during the period. Vanguard Group Inc. lifted its position in shares of BlackBerry by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after acquiring an additional 149,444 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of BlackBerry by 25.6% in the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock worth $34,343,000 after acquiring an additional 2,536,966 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of BlackBerry by 9.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock worth $27,920,000 after purchasing an additional 886,523 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of BlackBerry by 132.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock worth $16,631,000 after purchasing an additional 3,458,275 shares in the last quarter. 54.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BB has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research note on Friday, September 27th. CIBC upped their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BlackBerry presently has a consensus rating of “Hold” and a consensus target price of $3.23.

Insiders Place Their Bets

In other news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.

BlackBerry Trading Down 1.2 %

BB stock opened at $2.39 on Friday. The firm has a fifty day moving average price of $2.42 and a 200 day moving average price of $2.55. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.44. The firm has a market cap of $1.41 billion, a PE ratio of -8.24 and a beta of 1.40. 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 (NYSE:BB) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Sell-side analysts anticipate that BlackBerry Limited will post -0.06 earnings per share 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.