TD Asset Management Inc. reduced its position in shares of BlackBerry Limited (NYSE: BB – Get Rating) by 7.6% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company held 1,506,698 shares of the company after selling 124,142 shares during the quarter. TD Asset Management Inc.’s holdings in BlackBerry were worth $11,182,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Duality Advisers LP bought a new position in BlackBerry during Q1 worth approximately $806,000. Metis Global Partners LLC bought a new position in BlackBerry during Q1 worth approximately $140,000. Qube Research & Technologies Ltd bought a new position in BlackBerry during Q4, valued at approximately $737,000. Pacifica Partners Inc. increased its stake in BlackBerry shares by 214.3% in the 1st quarter. Pacifica Partners Inc. now owns 11,000 shares of the company valued at $75,000 after purchasing an additional 7,500 shares during the period. Finally, Plustick Management LLC purchased a new position in BlackBerry stock in Q4 valued at approximately $3,647,000. 38.00% of the shares are currently held by hedge funds and other institutional investors.
Changes to analyst ratings
BB has been the subject of several recent research reports. TD Securities reduced its price target on BlackBerry from $6.50 to $5.00 and set a “reduce” rating for the company in a research note on Saturday, June 25. StockNews.com moved BlackBerry from a “hold” rating to a “sell” rating in a Monday, June 27 research note. Canaccord Genuity Group reduced its price target on BlackBerry from $7.00 to $6.00 in a Thursday, May 19 research note. Robert W. Baird launched coverage on BlackBerry in a research note on Friday, August 12. They issued a “neutral” rating and a price target of $7.00 for the company. Finally, Royal Bank of Canada lowered its BlackBerry price target from $7.00 to $6.50 and set an “industry performance” rating for the company in a Thursday, May 19 research note. Three research analysts gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. Based on data from MarketBeat, BlackBerry has an average rating of “Hold” and a consensus price target of $6.75.
Insiders place their bets
In other BlackBerry news, insider Mattias Eriksson sold 12,391 BlackBerry shares in a trade that took place on Tuesday, June 28. The stock was sold at an average price of $5.55, for a total transaction of $68,770.05. Following the transaction, the insider now owns 26,672 shares of the company, valued at $148,029.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the shares are currently held by insiders.
BlackBerry price performance
NYSE BB shares opened at $6.15 on Wednesday. The company has a debt ratio of 0.33, a quick ratio of 1.85 and a current ratio of 1.85. BlackBerry Limited has a fifty-two week minimum of $4.70 and a fifty-two week maximum of $12.39. The company has a market capitalization of $3.55 billion, a PE ratio of -9.04 and a beta of 1.45. The stock’s 50-day simple moving average is $6.31 and its 200-day simple moving average is $5.92.
BlackBerry (NYSE:BB – Get Rating) last released its results on Thursday, June 23. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). BlackBerry had a negative return on equity of 6.29% and a negative net margin of 15.03%. The company had revenue of $168.00 million for the quarter. As a group, equity research analysts expect BlackBerry Limited to post -0.28 EPS for the current fiscal year.
BlackBerry Company Profile
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BlackBerry Limited provides intelligent security software and services to businesses and governments around the world. The Company operates through three segments: Cybersecurity, IoT, Licensing and Other. The company offers BlackBerry Cyber Suite, which provides Cylance AI and machine learning-based cybersecurity solutions, including BlackBerry Protect, an available EPP and MTD solution; BlackBerry Optics, an EDR solution that provides visibility and prevention of malicious activity; BlackBerry Guard, a managed detection and response solution; BlackBerry Gateway, an AI-powered ZTNA solution; and BlackBerry Persona, a UEBA solution that provides authentication by validating the user’s identity in real time.
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