BlackBerry Limited (NYSE:BB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of BlackBerry Limited (NYSE:BB) by 8.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,933 shares of the company’s stock after purchasing an additional 57,123 shares during the period. CIBC Asset Management Inc owned approximately 0.12% of BlackBerry worth $1,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. increased its stake in BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after buying an additional 294,250 shares during the period. Vanguard Group Inc. lifted its stake in shares of BlackBerry by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock worth $53,835,000 after acquiring an additional 149,444 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after purchasing an additional 488,934 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in BlackBerry by 132.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock valued at $16,631,000 after purchasing an additional 3,458,275 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in BlackBerry by 911.4% during the 2nd quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock worth $920,000 after purchasing an additional 334,466 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Price Performance

BB opened at $2.35 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $2.42 and its 200 day moving average price is $2.49. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.44. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -9.38 and a beta of 1.42.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. As a group, sell-side analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on BB shares. CIBC increased their target price on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a report on Friday, September 27th. Canaccord Genuity Group upped their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.23.

Insider Activity

In other news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.