Quantbot Technologies LP Acquires New Shares in BlackBerry Limited (NYSE:BB)

Quantbot Technologies LP bought a new position in BlackBerry Limited (NYSE:BB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 81,857 shares of the company’s stock, valued at approximately $309,000.

Several other large investors have also added to or reduced their stakes in BB. Quantinno Capital Management LP bought a new position in shares of BlackBerry in the third quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. purchased a new stake in BlackBerry in the 4th quarter worth approximately $38,000. Mindset Wealth Management LLC bought a new position in BlackBerry in the 4th quarter valued at $38,000. Sanctuary Advisors LLC purchased a new position in shares of BlackBerry during the 4th quarter valued at $40,000. Finally, HighTower Advisors LLC bought a new position in shares of BlackBerry in the fourth quarter worth $41,000. Institutional investors own 54.48% of the company’s stock.

Insider Activity

In other news, insider Mattias Eriksson sold 14,475 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the completion of the sale, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total value 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 insiders.

BlackBerry Price Performance

BB stock opened at $3.93 on Friday. The firm has a market cap of $2.34 billion, a P/E ratio of -17.84 and a beta of 1.27. The firm’s fifty day moving average is $4.70 and its 200 day moving average is $3.47. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BB shares. Robert W. Baird boosted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Canaccord Genuity Group lifted their target price on shares of BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Finally, TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BlackBerry currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.91.

BlackBerry Company 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.