Arrowstreet Capital Limited Partnership Purchases Shares of 2,772,152 BlackBerry Limited (NYSE:BB)

Arrowstreet Capital Limited Partnership purchased a new position in shares of BlackBerry Limited (NYSE:BB) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,772,152 shares of the company’s stock, valued at approximately $10,514,000.

Several other large investors also recently bought and sold shares of BB. Vanguard Group Inc. lifted its holdings in shares of BlackBerry by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company’s stock worth $86,844,000 after purchasing an additional 364,569 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of BlackBerry by 41.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock worth $51,856,000 after purchasing an additional 4,039,483 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of BlackBerry by 15.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after buying an additional 1,637,916 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of BlackBerry by 36.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,781,820 shares of the company’s stock valued at $6,735,000 after buying an additional 480,205 shares during the period. Finally, State Street Corp boosted its stake in shares of BlackBerry by 1.9% in the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after buying an additional 24,309 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BB shares. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research note on Thursday. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. CIBC dropped their price target on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a research note on Thursday. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, TD Cowen 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 research report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.15.

BlackBerry Trading Down 4.3 %

BB opened at $3.01 on Friday. The company’s 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $3.51. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -13.66 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $137.56 million. During the same period last year, the business earned $0.03 earnings per share. BlackBerry’s revenue was down 7.3% compared to the same quarter last year. Analysts expect that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackBerry news, CEO John Joseph Giamatteo sold 29,402 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $117,608.00. Following the transaction, the chief executive officer now directly owns 490,761 shares in the company, valued at $1,963,044. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Over the last three months, insiders sold 71,388 shares of company stock worth $288,882. Company insiders own 0.34% of the company’s stock.

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.