Boston Partners Trims Stock Position in BlackBerry Limited (NYSE:BB)

Boston Partners lowered its stake in shares of BlackBerry Limited (NYSE:BB) by 29.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 366,228 shares of the company’s stock after selling 149,276 shares during the period. Boston Partners’ holdings in BlackBerry were worth $1,384,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BB. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BlackBerry by 41.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock valued at $51,856,000 after buying an additional 4,039,483 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of BlackBerry by 15.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after purchasing an additional 1,637,916 shares in the last quarter. Potrero Capital Research LLC purchased a new position in shares of BlackBerry in the 3rd quarter valued at about $2,359,000. Capstone Investment Advisors LLC purchased a new position in shares of BlackBerry in the 3rd quarter valued at about $1,285,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of BlackBerry in the 4th quarter valued at about $1,112,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Insider Transactions at BlackBerry

In related news, insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the transaction, the insider now directly owns 278,306 shares in the company, valued at approximately $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,221 shares of company stock worth $925,655 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BB. Robert W. Baird lifted their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted 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. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Canaccord Genuity Group lifted their price target on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.91.

BlackBerry Trading Down 2.1 %

BB stock opened at $4.33 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -19.66 and a beta of 1.27. The business’s 50-day moving average is $4.69 and its 200 day moving average is $3.42. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24. 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 earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. On average, sell-side analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

About BlackBerry

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.