Milestone Asset Management LLC Makes New $557,000 Investment in BlackBerry Limited (NYSE:BB)

Milestone Asset Management LLC bought a new stake in shares of BlackBerry Limited (NYSE:BB) during the fourth quarter, HoldingsChannel reports. The firm bought 147,448 shares of the company’s stock, valued at approximately $557,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. EP Wealth Advisors LLC bought a new stake in BlackBerry during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. raised its stake in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Quantinno Capital Management LP bought a new stake in BlackBerry in the third quarter worth $38,000. Masso Torrence Wealth Management Inc. purchased a new stake in shares of BlackBerry in the fourth quarter worth $38,000. Finally, Signaturefd LLC increased its holdings in shares of BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Price Performance

Shares of BB opened at $4.40 on Friday. The firm has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $2.77. The firm has a market cap of $2.60 billion, a PE ratio of -19.98 and a beta of 1.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.54.

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

Insider Transactions at BlackBerry

In related news, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the sale, the insider now directly owns 278,306 shares of the company’s stock, valued at $1,113,224. This represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock worth $925,655 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

BB has been the topic of a number of analyst reports. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. TD Cowen upgraded 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. Royal Bank of Canada raised their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3.69.

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.