Skandinaviska Enskilda Banken AB publ Buys 36,869 Shares of BlackBerry Limited (NYSE:BB)

Skandinaviska Enskilda Banken AB publ grew its position in BlackBerry Limited (NYSE:BB) by 68.4% during the 4th quarter, HoldingsChannel reports. The firm owned 90,781 shares of the company’s stock after purchasing an additional 36,869 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in BlackBerry were worth $348,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BB. Swiss National Bank lifted its holdings in shares of BlackBerry by 0.6% in the fourth quarter. Swiss National Bank now owns 1,109,350 shares of the company’s stock valued at $4,212,000 after purchasing an additional 6,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in BlackBerry by 41.9% in 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 purchasing an additional 4,039,483 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of BlackBerry during the 4th quarter worth approximately $41,000. Prosperity Wealth Management Inc. bought a new position in BlackBerry during the fourth quarter worth $178,000. Finally, SLT Holdings LLC bought a new stake in shares of BlackBerry during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Performance

BB stock opened at $4.53 on Tuesday. BlackBerry Limited has a 1-year low of $2.01 and a 1-year 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. The stock has a 50-day moving average price of $4.65 and a 200-day moving average price of $3.35. The firm has a market cap of $2.70 billion, a PE ratio of -20.57 and a beta of 1.27.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, equities research analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current year.

Insider Activity at BlackBerry

In other news, CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. The trade was a 28.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mattias Eriksson sold 14,475 shares of the 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 $53,268.00. Following the sale, the insider now directly owns 238,838 shares of the company’s stock, valued at $878,923.84. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BB. Royal Bank of Canada boosted 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 raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Robert W. Baird boosted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. TD Securities upgraded 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 report on Friday, December 20th. Finally, Canaccord Genuity Group raised their price objective on shares of BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.91.

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.