Brokerages Set BlackBerry Limited (NYSE:BB) Target Price at $3.91

Shares of BlackBerry Limited (NYSE:BB) have received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.91.

Several brokerages have recently issued reports on BB. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. Robert W. Baird upped their target price 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. Canaccord Genuity Group lifted their price target on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a report on Tuesday, March 11th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th.

Insider Activity

In other news, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the sale, the insider now directly owns 278,306 shares of the company’s stock, valued at $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock worth $925,655 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of BlackBerry

A number of hedge funds have recently modified their holdings of BB. Charles Schwab Investment Management Inc. raised its position in BlackBerry by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock valued at $3,194,000 after buying an additional 11,899 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BlackBerry by 10.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock valued at $1,284,000 after purchasing an additional 46,101 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of BlackBerry by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after purchasing an additional 11,488 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of BlackBerry in the third quarter worth approximately $1,285,000. Finally, Potrero Capital Research LLC acquired a new stake in shares of BlackBerry during the third quarter worth approximately $2,359,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Performance

Shares of NYSE BB opened at $4.34 on Friday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -19.73 and a beta of 1.27. The firm’s 50-day moving average price is $4.70 and its two-hundred day moving average price is $3.44. BlackBerry has a 52-week low of $2.01 and a 52-week high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

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.