BlackBerry Limited (NYSE:BB) Holdings Lifted by Advisory Services Network LLC

Advisory Services Network LLC grew its holdings in shares of BlackBerry Limited (NYSE:BB) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,829 shares of the company’s stock after buying an additional 4,375 shares during the period. Advisory Services Network LLC’s holdings in BlackBerry were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in BlackBerry by 1.9% during the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after acquiring an additional 24,309 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of BlackBerry by 121.1% during the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock valued at $99,000 after purchasing an additional 20,771 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in BlackBerry in the third quarter worth about $410,000. Barclays PLC grew its position in BlackBerry by 60.2% in the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after buying an additional 93,651 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after buying an additional 7,652 shares during the period. Institutional investors own 54.48% of the company’s stock.

Analyst Upgrades and Downgrades

BB has been the subject of a number of research analyst reports. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Canaccord Genuity Group decreased their price target on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price target on BlackBerry in a research report on Thursday, April 3rd. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Finally, TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, BlackBerry currently has an average rating of “Hold” and a consensus price target of $4.12.

BlackBerry Stock Performance

BlackBerry stock opened at $3.17 on Friday. 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 company has a market cap of $1.89 billion, a P/E ratio of -14.39 and a beta of 1.30. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The firm’s 50 day simple moving average is $4.29 and its 200-day simple moving average is $3.55.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. As a group, equities research analysts predict that BlackBerry Limited will post -0.03 EPS for the current year.

Insider Activity

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company’s stock, valued at approximately $126,770.02. This represents a 41.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jay P. Chai sold 24,425 shares of the 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. Insiders have sold 61,641 shares of company stock worth $214,365 in the last 90 days. Company insiders own 0.34% of the company’s stock.

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 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.