Scotia Capital Inc. Sells 39,578 Shares of BlackBerry Limited (NYSE:BB)

Scotia Capital Inc. cut its stake in BlackBerry Limited (NYSE:BB – Get Rating) by 36.5% in the 4th quarter, Holdings Channel reports. The firm owned 68,765 shares of the company’s stock after selling 39,578 shares during the period. Scotia Capital Inc.’s holdings in BlackBerry were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of BlackBerry in the 4th quarter worth about $25,000. Parametrica Management Ltd bought a new position in shares of BlackBerry in the 4th quarter worth about $43,000. Tower Research Capital LLC TRC increased its stake in shares of BlackBerry by 470.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock worth $43,000 after acquiring an additional 7,437 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of BlackBerry in the 2nd quarter worth about $71,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of BlackBerry in the 1st quarter worth about $76,000. 42.43% of the stock is currently owned by institutional investors.

BlackBerry Stock Down 0.6 %

Shares of NYSE BB opened at $5.38 on Monday. The firm’s 50-day moving average price is $4.35 and its 200-day moving average price is $4.16. The company has a market cap of $3.14 billion, a PE ratio of -3.90 and a beta of 1.59. BlackBerry Limited has a 52-week low of $3.17 and a 52-week high of $7.20.

BlackBerry (NYSE:BB – Get Rating) last announced its quarterly earnings results on Friday, March 31st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $151.00 million for the quarter, compared to the consensus estimate of $150.97 million. BlackBerry had a negative net margin of 111.89% and a negative return on equity of 10.91%. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. As a group, equities research analysts anticipate that BlackBerry Limited will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Securities upgraded shares of BlackBerry from a “reduce” rating to a “hold” rating and increased their price target for the stock from $3.75 to $4.00 in a research note on Friday, March 31st. 3M restated a “maintains” rating on shares of BlackBerry in a research note on Thursday. Royal Bank of Canada raised their price objective on shares of BlackBerry from $4.25 to $5.00 in a research note on Thursday. StockNews.com initiated coverage on shares of BlackBerry in a research note on Thursday. They set a “sell” rating for the company. Finally, CIBC upgraded shares of BlackBerry from a “sector underperform” rating to a “neutral” rating and raised their price objective for the company from $4.20 to $6.50 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

Insider Activity

In other news, insider Marjorie Dickman sold 28,237 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $4.63, for a total transaction of $130,737.31. Following the sale, the insider now owns 35,372 shares of the company’s stock, valued at approximately $163,772.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

BlackBerry Company Profile

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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.