XTX Topco Ltd Grows Stock Position in BlackBerry Limited (NYSE:BB)

XTX Topco Ltd lifted its holdings in shares of BlackBerry Limited (NYSE:BB) by 25.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 200,778 shares of the company’s stock after acquiring an additional 41,193 shares during the period. XTX Topco Ltd’s holdings in BlackBerry were worth $526,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in BlackBerry in the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of BlackBerry during the third quarter worth about $38,000. Werba Rubin Papier Wealth Management purchased a new stake in BlackBerry in the second quarter valued at approximately $43,000. Finally, Viewpoint Capital Management LLC acquired a new position in BlackBerry in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Trading Down 2.4 %

BB stock opened at $2.70 on Friday. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $4.44. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.59 billion, a P/E ratio of -10.78 and a beta of 1.43. The company’s 50-day simple moving average is $2.48 and its 200-day simple moving average is $2.44.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. 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 prior year, the firm posted ($0.06) EPS. BlackBerry’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

BB has been the subject of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Friday, September 27th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BlackBerry has an average rating of “Hold” and a consensus target price of $3.23.

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.