Oppenheimer & Co. Inc. Lowers Position in BlackBerry Limited (NYSE:BB)

Oppenheimer & Co. Inc. cut its stake in BlackBerry Limited (NYSE:BB - Free Report) by 88.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,018 shares of the company's stock after selling 272,120 shares during the period. Oppenheimer & Co. Inc.'s holdings in BlackBerry were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in shares of BlackBerry during the second quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 purchasing an additional 5,349 shares during the period. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the second quarter valued at approximately $43,000. Viewpoint Capital Management LLC bought a new stake in BlackBerry in the second quarter valued at approximately $50,000. Finally, International Assets Investment Management LLC increased its position in shares of 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 buying an additional 7,842 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BB. CIBC boosted their target price on BlackBerry from $3.50 to $3.60 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $3.00 price target on shares of BlackBerry in a research note on Friday, September 27th. Canaccord Genuity Group increased their price objective 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, StockNews.com cut shares of BlackBerry from a "hold" rating to a "sell" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $3.23.

BlackBerry Stock Performance

Shares of BB traded up $0.03 during midday trading on Friday, reaching $2.35. The stock had a trading volume of 6,823,659 shares, compared to its average volume of 8,992,294. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $2.41 and a 200-day simple moving average of $2.48. The firm has a market cap of $1.39 billion, a PE ratio of -9.40 and a beta of 1.42. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.44.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analysts' expectations of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, sell-side analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current year.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the business's 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 completion of the sale, the insider now directly owns 30,129 shares of the company's stock, valued at $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company's stock.

BlackBerry 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.