Kovack Advisors Inc. Trims Stake in BlackBerry Limited (NYSE:BB)

Kovack Advisors Inc. lessened its stake in BlackBerry Limited (NYSE:BB) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,570 shares of the company’s stock after selling 4,500 shares during the period. Kovack Advisors Inc. owned about 0.06% of BlackBerry worth $903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of BlackBerry by 83.3% in the 2nd 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 in the last quarter. International Assets Investment Management LLC grew its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the period. Signaturefd LLC increased its position in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after buying an additional 9,156 shares in the last quarter. Finally, Creative Planning raised its stake in shares of BlackBerry by 40.8% during the 3rd quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after buying an additional 10,585 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

Insider Buying and Selling

In other news, insider Philip S. Kurtz sold 15,005 shares of the business’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 transaction, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity Group boosted 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 upped their price target 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, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Friday, September 27th. Seven 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.23.

BlackBerry Stock Performance

NYSE:BB opened at $2.44 on Thursday. The company has a market cap of $1.44 billion, a P/E ratio of -9.76 and a beta of 1.42. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $4.44. The company’s 50-day moving average price is $2.42 and its 200-day moving average price is $2.50. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last released its 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. The business had revenue of $145.00 million for the quarter, compared to analyst estimates 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. On average, sell-side analysts forecast that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

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 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.