Raymond James Financial Services Advisors Inc. Buys 3,958 Shares of BlackBerry Limited (NYSE:BB)

Raymond James Financial Services Advisors Inc. boosted its stake in BlackBerry Limited (NYSE:BB) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,535 shares of the company’s stock after buying an additional 3,958 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in BlackBerry were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in BlackBerry by 8.1% in the third quarter. Citigroup Inc. now owns 282,592 shares of the company’s stock worth $1,344,000 after purchasing an additional 21,100 shares during the period. Vanguard Group Inc. raised its position in shares of BlackBerry by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock worth $90,548,000 after purchasing an additional 534,772 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in BlackBerry during the 3rd quarter valued at about $2,016,000. Public Sector Pension Investment Board raised its holdings in BlackBerry by 0.8% in the third quarter. Public Sector Pension Investment Board now owns 1,134,077 shares of the company’s stock worth $5,394,000 after buying an additional 9,248 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of BlackBerry by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock valued at $41,164,000 after buying an additional 3,245,600 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 3.4 %

BlackBerry stock opened at $2.90 on Wednesday. BlackBerry Limited has a 52-week low of $2.46 and a 52-week high of $5.75. The company has a market cap of $1.71 billion, a P/E ratio of -12.06 and a beta of 1.41. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $2.79 and a two-hundred day simple moving average of $3.26.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The company had revenue of $173.00 million during the quarter, compared to analyst estimates of $150.47 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. Analysts predict that BlackBerry Limited will post -0.09 EPS for the current year.

Insider Transactions at BlackBerry

In related news, Director Philip G. Brace acquired 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at approximately $97,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

BB has been the topic of several recent analyst reports. StockNews.com downgraded BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. CIBC dropped their price objective on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Robert W. Baird decreased their target price on BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.08.

BlackBerry 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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.