CANADA LIFE ASSURANCE Co Raises Position in BlackBerry Limited (NYSE:BB)

CANADA LIFE ASSURANCE Co boosted its position in BlackBerry Limited (NYSE:BB) by 66.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 242,797 shares of the company’s stock after purchasing an additional 96,972 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in BlackBerry were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BB. Legal & General Group Plc lifted its position in shares of BlackBerry by 19.9% during the 4th quarter. Legal & General Group Plc now owns 33,185,748 shares of the company’s stock valued at $125,987,000 after buying an additional 5,518,216 shares during the last quarter. Vanguard Group Inc. raised its stake in BlackBerry by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company’s stock valued at $86,844,000 after acquiring an additional 364,569 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 valued at $51,856,000 after purchasing an additional 4,039,483 shares during the last quarter. Renaissance Technologies LLC bought a new position in BlackBerry during the fourth quarter worth about $19,485,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of BlackBerry in the fourth quarter worth about $10,514,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Down 0.3 %

Shares of NYSE:BB opened at $3.39 on Wednesday. The firm has a market capitalization of $2.02 billion, a PE ratio of -15.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $6.24. The firm has a fifty day moving average of $3.89 and a 200 day moving average of $3.61.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BB. Canaccord Genuity Group cut their price target on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research report on Thursday, April 3rd. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Finally, CIBC cut their price target on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.12.

Insider Transactions at BlackBerry

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the sale, the senior vice president now owns 42,398 shares of the company’s stock, valued at approximately $126,770.02. The trade was a 41.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 37,216 shares of company stock worth $112,025. 0.34% of the stock is currently owned by insiders.

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.