BlackBerry Limited (NYSE:BB) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. cut its holdings in BlackBerry Limited (NYSE:BB) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,284,879 shares of the company’s stock after selling 2,158,346 shares during the period. EdgePoint Investment Group Inc. owned about 1.74% of BlackBerry worth $25,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the 2nd quarter valued at about $43,000. Viewpoint Capital Management LLC acquired a new position in BlackBerry during the 2nd quarter valued at about $50,000. Marathon Trading Investment Management LLC acquired a new position in BlackBerry during the 2nd quarter valued at about $169,000. Scotia Capital Inc. boosted its stake in BlackBerry by 12.9% during the 4th quarter. Scotia Capital Inc. now owns 73,400 shares of the company’s stock valued at $260,000 after purchasing an additional 8,378 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in BlackBerry during the 1st quarter valued at about $215,000. 54.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Mattias Eriksson sold 52,549 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.45, for a total transaction of $128,745.05. Following the sale, the insider now owns 214,440 shares in the company, valued at $525,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

BlackBerry Stock Down 2.4 %

NYSE BB opened at $2.39 on Thursday. 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 company’s 50 day simple moving average is $2.35 and its 200 day simple moving average is $2.60. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $5.01. The company has a market capitalization of $1.41 billion, a P/E ratio of -8.24 and a beta of 1.39.

BlackBerry (NYSE:BB) last released its earnings results 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 net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. During the same period in the previous year, the firm earned $0.04 EPS. The business’s revenue for the quarter was down 61.4% on a year-over-year basis. Equities research analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. CIBC raised shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price target for the company in a research note on Thursday, June 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research note on Thursday, June 27th. Canaccord Genuity Group reduced their price target on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. TD Securities reduced their price target 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. Finally, Canaccord Genuity Group reduced their price target on shares of BlackBerry from $3.25 to $2.70 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.20.

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.