Pictet Asset Management SA grew its position in shares of BlackBerry Limited (NYSE:BB – Get Rating) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,986 shares of the company’s stock after purchasing an additional 10,702 shares during the period. Pictet Asset Management SA’s holdings in BlackBerry were worth $919,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in BlackBerry by 11.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 87,231 shares of the company’s stock worth $410,000 after purchasing an additional 9,124 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of BlackBerry by 266.4% in the third quarter. Oppenheimer & Co. Inc. now owns 151,300 shares of the company’s stock worth $711,000 after buying an additional 110,010 shares during the period. CenterBook Partners LP increased its holdings in shares of BlackBerry by 34.7% in the third quarter. CenterBook Partners LP now owns 180,348 shares of the company’s stock worth $848,000 after buying an additional 46,473 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of BlackBerry by 25.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 211,320 shares of the company’s stock worth $995,000 after buying an additional 43,168 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BlackBerry by 175.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,700,900 shares of the company’s stock worth $26,832,000 after buying an additional 3,631,200 shares during the period. Institutional investors own 42.43% of the company’s stock.
BlackBerry Stock Up 2.1 %
BB stock opened at $3.88 on Tuesday. BlackBerry Limited has a fifty-two week low of $3.17 and a fifty-two week high of $7.97. The business’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $4.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.93 and a beta of 1.56.
Insiders Place Their Bets
In other BlackBerry news, CFO Steve Rai sold 8,958 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $3.32, for a total transaction of $29,740.56. Following the transaction, the chief financial officer now owns 48,655 shares in the company, valued at approximately $161,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 39,683 shares of company stock worth $136,059. Company insiders own 1.60% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on BB. Royal Bank of Canada decreased their price objective on BlackBerry from $6.00 to $5.50 and set a “sector perform” rating on the stock in a report on Wednesday, December 21st. TD Securities reduced their price target on BlackBerry from $4.25 to $3.75 and set a “reduce” rating on the stock in a report on Wednesday, December 21st. Raymond James reduced their price target on BlackBerry from $8.00 to $7.00 and set a “market perform” rating on the stock in a report on Wednesday, December 21st. Finally, Robert W. Baird reduced their price target on BlackBerry from $6.00 to $5.00 in a report on Wednesday, December 21st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, BlackBerry has an average rating of “Hold” and an average price target of $5.25.
BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.
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