Kovack Advisors Inc. Sells 16,100 Shares of BlackBerry Limited (NYSE:BB)

Kovack Advisors Inc. lowered its position in shares of BlackBerry Limited (NYSE:BB) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 362,170 shares of the company’s stock after selling 16,100 shares during the quarter. Kovack Advisors Inc. owned approximately 0.06% of BlackBerry worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of BlackBerry by 2.9% during the third quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock worth $90,548,000 after purchasing an additional 534,772 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of BlackBerry by 17.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,229,327 shares of the company’s stock worth $32,672,000 after purchasing an additional 1,362,284 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BlackBerry by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock worth $41,164,000 after purchasing an additional 3,245,600 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in shares of BlackBerry during the third quarter worth $21,316,000. Finally, Covalis Capital LLP acquired a new stake in shares of BlackBerry during the third quarter worth $7,288,000. Institutional investors own 54.48% of the company’s stock.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, Director Philip G. Brace bought 35,000 shares of BlackBerry stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $2.79 per share, with a total value of $97,650.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at approximately $97,650. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

BB has been the subject of a number of research analyst reports. CIBC decreased their target price on BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Robert W. Baird decreased their target price on BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research note on Thursday, April 4th. Finally, StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, BlackBerry presently has an average rating of “Hold” and an average target price of $4.08.

BlackBerry Stock Performance

Shares of NYSE BB traded up $0.05 during trading hours on Friday, reaching $2.83. 2,955,074 shares of the stock were exchanged, compared to its average volume of 8,757,254. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -11.79 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. BlackBerry Limited has a 52 week low of $2.46 and a 52 week high of $5.75. The stock’s fifty day simple moving average is $2.79 and its 200 day simple moving average is $3.25.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The business had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) earnings per share. Sell-side analysts predict that BlackBerry Limited will post -0.09 EPS for the current year.

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.