Prosperity Wealth Management Inc. Acquires Shares of 47,100 BlackBerry Limited (NYSE:BB)

Prosperity Wealth Management Inc. acquired a new stake in shares of BlackBerry Limited (NYSE:BB) in the 4th quarter, Holdings Channel.com reports. The fund acquired 47,100 shares of the company’s stock, valued at approximately $178,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after purchasing an additional 7,652 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of BlackBerry by 1.3% during the 4th quarter. CIBC Asset Management Inc now owns 709,720 shares of the company’s stock valued at $2,690,000 after purchasing an additional 8,787 shares during the last quarter. Masso Torrence Wealth Management Inc. bought a new position in shares of BlackBerry in the 4th quarter valued at about $38,000. Sanctuary Advisors LLC bought a new position in shares of BlackBerry in the 4th quarter valued at about $40,000. Finally, Creative Planning lifted its holdings in shares of BlackBerry by 40.8% in the 3rd quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after acquiring an additional 10,585 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Performance

BlackBerry stock opened at $4.38 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24. The firm has a market capitalization of $2.61 billion, a P/E ratio of -19.89 and a beta of 1.27. The company’s 50-day moving average is $4.61 and its 200 day moving average is $3.31.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 EPS. Research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current year.

Insider Transactions at BlackBerry

In other news, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the transaction, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on BB. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Robert W. Baird increased their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group increased their price target on shares of BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a report on Tuesday. Royal Bank of Canada increased their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. Finally, TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.91.

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.