Masso Torrence Wealth Management Inc. Makes New $38,000 Investment in BlackBerry Limited (NYSE:BB)

Masso Torrence Wealth Management Inc. purchased a new position in shares of BlackBerry Limited (NYSE:BB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,000 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of BlackBerry during the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 purchasing an additional 5,349 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of BlackBerry during the third quarter worth about $38,000. Ballentine Partners LLC acquired a new position in BlackBerry in the 4th quarter valued at approximately $65,000. Finally, International Assets Investment Management LLC increased its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Down 0.6 %

BlackBerry stock opened at $4.31 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $2.75. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -19.67 and a beta of 1.30. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.43.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.01 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. 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 report on Friday, December 20th. Robert W. Baird lifted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their price target on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, January 10th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Insider Transactions at BlackBerry

In other BlackBerry news, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock worth $925,655 in the last 90 days. Insiders own 0.34% of the company’s stock.

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.