BlackBerry (NYSE:BB – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other research analysts have also recently issued reports on BB. Robert W. Baird lowered their target price on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. CIBC lowered their target price on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. TD Securities lowered their target price on shares of BlackBerry from $4.00 to $3.75 and set a “hold” rating for the company in a report on Thursday, December 21st. Canaccord Genuity Group lowered their target price on shares of BlackBerry from $5.00 to $4.25 and set a “hold” rating for the company in a report on Thursday, December 21st. Finally, Royal Bank of Canada lowered their target price on shares of BlackBerry from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, BlackBerry presently has an average rating of “Hold” and a consensus price target of $4.08.
BlackBerry Stock Down 3.0 %
Shares of BB opened at $2.71 on Wednesday. BlackBerry has a fifty-two week low of $2.59 and a fifty-two week high of $5.75. The firm’s 50 day moving average price is $3.31 and its 200 day moving average price is $3.93.
BlackBerry (NYSE:BB – Get Free Report) last posted its quarterly earnings results on Wednesday, December 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. BlackBerry had a negative net margin of 68.47% and a negative return on equity of 4.27%. The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $165.15 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that BlackBerry will post -0.06 EPS for the current fiscal year.
Insiders Place Their Bets
In other BlackBerry news, CEO John Joseph Giamatteo sold 29,862 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $3.25, for a total transaction of $97,051.50. Following the completion of the transaction, the chief executive officer now owns 153,346 shares in the company, valued at approximately $498,374.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO John Joseph Giamatteo sold 29,862 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $3.25, for a total value of $97,051.50. Following the completion of the transaction, the chief executive officer now owns 153,346 shares in the company, valued at approximately $498,374.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steve Rai sold 12,645 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $3.56, for a total transaction of $45,016.20. Following the completion of the transaction, the chief financial officer now owns 53,720 shares of the company’s stock, valued at approximately $191,243.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,922 shares of company stock worth $329,212. 1.94% of the stock is owned by insiders.
Institutional Investors Weigh In On BlackBerry
Large investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. acquired a new stake in BlackBerry in the 3rd quarter valued at about $25,000. Signaturefd LLC grew its stake in BlackBerry by 262.9% in the 2nd quarter. Signaturefd LLC now owns 4,780 shares of the company’s stock valued at $26,000 after acquiring an additional 3,463 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in BlackBerry in the 3rd quarter valued at about $28,000. Highlander Capital Management LLC grew its stake in BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in BlackBerry in the 4th quarter valued at about $36,000. 42.66% of the stock is owned by institutional investors and hedge funds.
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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.