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

Boston Partners trimmed its holdings in BlackBerry Limited (NYSE:BB) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 366,228 shares of the company’s stock after selling 149,276 shares during the quarter. Boston Partners owned approximately 0.06% of BlackBerry worth $1,384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in BlackBerry by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after purchasing an additional 11,899 shares during the period. The Manufacturers Life Insurance Company increased its holdings in BlackBerry by 10.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock worth $1,284,000 after purchasing an additional 46,101 shares during the period. BNP Paribas Financial Markets increased its holdings in BlackBerry by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after purchasing an additional 11,488 shares during the period. Capstone Investment Advisors LLC purchased a new position in BlackBerry during the 3rd quarter worth $1,285,000. Finally, Potrero Capital Research LLC purchased a new position in BlackBerry during the 3rd quarter worth $2,359,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BB. 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 report on Friday, December 20th. Canaccord Genuity Group increased their target price on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research report on Tuesday, March 11th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Royal Bank of Canada increased their target price on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Finally, Robert W. Baird increased their target price on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.91.

BlackBerry Stock Down 2.1 %

BlackBerry stock opened at $4.33 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 stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -19.66 and a beta of 1.27. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24. The business has a fifty day moving average price of $4.69 and a 200-day moving average price of $3.42.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $143.00 million during 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 quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Equities research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In related news, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 trade represents a 28.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s 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 sold 244,221 shares of company stock valued at $925,655 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.