Prosperity Wealth Management Inc. Takes $178,000 Position in BlackBerry Limited (NYSE:BB)

Prosperity Wealth Management Inc. purchased a new stake in shares of BlackBerry Limited (NYSE:BB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,100 shares of the company’s stock, valued at approximately $178,000.

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

Insider Buying and Selling

In related news, CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the transaction, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at $1,418,831.36. This represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,221 shares of company stock valued at $925,655. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackBerry Trading Up 0.1 %

NYSE:BB 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. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -19.89 and a beta of 1.27. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. The business has a fifty day moving average price of $4.61 and a 200-day moving average price of $3.31.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million during the quarter, compared to analyst estimates 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 was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. Sell-side analysts forecast that BlackBerry Limited will post -0.03 EPS for the current year.

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.