Palacios Wealth Management LLC Takes $50,000 Position in BlackBerry Limited (NYSE:BB)

Palacios Wealth Management LLC acquired a new stake in BlackBerry Limited (NYSE:BB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,080 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds also recently made changes to their positions in BB. Milestone Asset Management LLC acquired a new stake in BlackBerry during the 4th quarter worth approximately $557,000. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry during the 4th quarter worth approximately $38,000. Foundations Investment Advisors LLC acquired a new stake in BlackBerry during the 4th quarter worth approximately $95,000. Ballentine Partners LLC acquired a new stake in BlackBerry during the 4th quarter worth approximately $65,000. Finally, Barclays PLC lifted its holdings in BlackBerry by 60.2% during the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after purchasing an additional 93,651 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BB. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Canaccord Genuity Group lifted their price target on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada raised their price objective on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Robert W. Baird raised their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BlackBerry currently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Insider Activity

In related news, insider Mattias Eriksson sold 14,475 shares of the business’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 $53,268.00. Following the sale, the insider now owns 238,838 shares in the company, valued at $878,923.84. The trade was a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the business’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 disclosure for this sale can be found here. In the last quarter, insiders have sold 244,221 shares of company stock worth $925,655. Insiders own 0.34% of the company’s stock.

BlackBerry Trading Up 1.5 %

Shares of BB opened at $5.91 on Friday. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $6.00. The business’s fifty day moving average is $3.95 and its 200-day moving average is $2.93. 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 (NYSE:BB) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter last year, the company posted $0.01 EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts forecast that BlackBerry Limited will post -0.03 earnings per share 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.