BlackBerry Limited (NYSE:BB) Position Cut by Potrero Capital Research LLC

Potrero Capital Research LLC cut its holdings in shares of BlackBerry Limited (NYSE:BB) by 92.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,118 shares of the company’s stock after selling 835,182 shares during the period. BlackBerry makes up about 0.1% of Potrero Capital Research LLC’s investment portfolio, making the stock its 26th largest holding. Potrero Capital Research LLC’s holdings in BlackBerry were worth $246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after acquiring an additional 93,651 shares in the last quarter. Milestone Asset Management LLC purchased a new position in BlackBerry during the 4th quarter worth approximately $557,000. ArrowMark Colorado Holdings LLC raised its stake in BlackBerry by 7.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,911,833 shares of the company’s stock valued at $7,227,000 after purchasing an additional 131,833 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BlackBerry by 41.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock valued at $51,856,000 after purchasing an additional 4,039,483 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its position in shares of BlackBerry by 60.5% in the fourth quarter. Alberta Investment Management Corp now owns 644,900 shares of the company’s stock worth $2,448,000 after buying an additional 243,000 shares during the period. Institutional investors own 54.48% of the company’s stock.

BlackBerry Price Performance

BB opened at $3.86 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. The stock has a market capitalization of $2.30 billion, a P/E ratio of -17.55 and a beta of 1.42. The company’s 50 day simple moving average is $3.65 and its 200-day simple moving average is $3.69. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $141.70 million during the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. Sell-side analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BB. Royal Bank of Canada set a $3.75 price objective on BlackBerry in a report on Thursday, April 3rd. Canaccord Genuity Group cut their price objective on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research report on Thursday, April 3rd. CIBC dropped their price objective on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a report on Thursday, April 3rd. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.12.

Insiders Place Their Bets

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. The trade was a 41.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 37,216 shares of company stock worth $112,025. Corporate insiders own 0.34% of the company’s stock.

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.