TD Asset Management Inc Increases Stake in BlackBerry Limited (NYSE:BB)

TD Asset Management Inc lifted its stake in shares of BlackBerry Limited (NYSE:BB) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,496,185 shares of the company’s stock after purchasing an additional 21,259 shares during the quarter. TD Asset Management Inc owned about 0.25% of BlackBerry worth $3,740,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in BlackBerry by 3.8% in the 2nd quarter. CIBC Asset Management Inc now owns 643,810 shares of the company’s stock valued at $1,608,000 after purchasing an additional 23,283 shares in the last quarter. Viewpoint Capital Management LLC acquired a new stake in BlackBerry in the second quarter valued at approximately $50,000. Intact Investment Management Inc. grew its position in BlackBerry by 508.1% in the second quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company’s stock valued at $2,862,000 after acquiring an additional 956,690 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of BlackBerry by 39.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,315,157 shares of the company’s stock worth $3,262,000 after buying an additional 369,283 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after buying an additional 9,156 shares in the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BB. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Robert W. Baird reduced their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, TD Securities reduced their price objective on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BlackBerry has a consensus rating of “Hold” and an average target price of $3.20.

BlackBerry Price Performance

NYSE BB opened at $2.45 on Thursday. The company has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $2.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -8.45 and a beta of 1.39. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $5.65.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The firm’s revenue was down 61.4% on a year-over-year basis. Equities research analysts predict that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 52,549 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $2.45, for a total transaction of $128,745.05. Following the transaction, the insider now owns 214,440 shares in the company, valued at $525,378. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

BlackBerry Company 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.