BlackBerry Limited (NYSE:BB) Stock Position Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in BlackBerry Limited (NYSE:BB) by 8.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 787,026 shares of the company’s stock after selling 73,649 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BlackBerry were worth $2,062,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intact Investment Management Inc. grew its stake in shares of BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of 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 buying an additional 488,934 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of BlackBerry by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after buying an additional 11,488 shares during the period. Virtu Financial LLC lifted its holdings in shares of BlackBerry by 911.4% in the second quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock valued at $920,000 after buying an additional 334,466 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after buying an additional 7,842 shares during the period. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Down 2.5 %

Shares of NYSE BB opened at $2.69 on Monday. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $4.44. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -10.76 and a beta of 1.43. 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 business has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $2.44.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million during 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%. BlackBerry’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. Sell-side analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BB. Canaccord Genuity Group upped their price objective on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry has a consensus rating of “Hold” and a consensus price target of $3.23.

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.