Oppenheimer & Co. Inc. bought a new position in BlackBerry Limited (NYSE:BB – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 99,450 shares of the company’s stock, valued at approximately $453,000.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of BlackBerry by 470.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock worth $43,000 after buying an additional 7,437 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in BlackBerry during the 4th quarter valued at $31,000. Atria Wealth Solutions Inc. purchased a new position in BlackBerry during the 1st quarter valued at $76,000. Virtu Financial LLC purchased a new position in BlackBerry during the 4th quarter valued at $36,000. Finally, Summit X LLC purchased a new position in BlackBerry during the 1st quarter valued at $50,000. 42.66% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at BlackBerry
In other BlackBerry news, insider Mattias Eriksson sold 11,126 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $5.56, for a total transaction of $61,860.56. Following the transaction, the insider now owns 64,721 shares in the company, valued at approximately $359,848.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.94% of the stock is currently owned by insiders.
BlackBerry Stock Up 1.0 %
BlackBerry (NYSE:BB – Get Free Report) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.10. BlackBerry had a negative net margin of 65.50% and a negative return on equity of 6.39%. The company had revenue of $373.00 million for the quarter, compared to the consensus estimate of $159.36 million.
Analyst Upgrades and Downgrades
BB has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of BlackBerry from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada reduced their price objective on shares of BlackBerry from $5.00 to $4.50 in a research report on Thursday, June 29th. StockNews.com initiated coverage on shares of BlackBerry in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. 3M reissued a “maintains” rating on shares of BlackBerry in a research report on Thursday, May 18th. Finally, CIBC raised shares of BlackBerry from a “sector underperform” rating to a “neutral” rating and boosted their price objective for the company from $4.20 to $6.50 in a research report on Thursday, May 18th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, BlackBerry currently has an average rating of “Hold” and an average target price of $5.57.
BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.
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