Point72 Asset Management L.P. Sells 228,679 Shares of BlackBerry Limited (NYSE:BB)

Point72 Asset Management L.P. lowered its holdings in BlackBerry Limited (NYSE:BB - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,181,921 shares of the company's stock after selling 228,679 shares during the period. Point72 Asset Management L.P. owned about 0.20% of BlackBerry worth $3,097,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BB. EP Wealth Advisors LLC purchased a new position in BlackBerry in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company's stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry during the 2nd quarter worth $43,000. Viewpoint Capital Management LLC purchased a new stake in BlackBerry in the 2nd quarter worth about $50,000. Finally, Signaturefd LLC raised its stake 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 acquiring an additional 9,063 shares during the period. Institutional investors own 54.48% of the company's stock.

BlackBerry Price Performance

NYSE:BB traded down $0.08 during trading hours on Tuesday, hitting $2.86. 12,335,822 shares of the company's stock traded hands, compared to its average volume of 9,311,816. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $4.44. The business's fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $2.44. 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 $1.69 billion, a P/E ratio of -11.78 and a beta of 1.43.

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

Insider Activity

In other news, insider Philip S. Kurtz sold 15,005 shares of the business's stock in a transaction that occurred on Saturday, September 28th. The shares were 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 in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BB. Canaccord Genuity Group lifted their target price on shares of BlackBerry from $2.70 to $2.80 and gave the stock a "hold" rating in a research note on Friday, October 18th. CIBC raised their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the stock an "outperform" rating in a report on Thursday, October 17th. StockNews.com upgraded BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $3.00 price target on shares of BlackBerry in a research report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BlackBerry has a consensus rating of "Hold" and a consensus price target of $3.23.

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.