Bank of Montreal Can Has $4.30 Million Stock Holdings in BlackBerry Limited (NYSE:BB)

Bank of Montreal Can lifted its position in BlackBerry Limited (NYSE:BB) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,733,809 shares of the company’s stock after buying an additional 427,083 shares during the quarter. Bank of Montreal Can owned about 0.29% of BlackBerry worth $4,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position 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 valued at $53,835,000 after purchasing an additional 149,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in BlackBerry by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock worth $27,920,000 after buying an additional 886,523 shares during the period. Quantbot Technologies LP acquired a new position in shares of BlackBerry during the first quarter worth approximately $645,000. First Trust Advisors LP boosted its position in shares of BlackBerry by 70.1% in the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock valued at $119,657,000 after acquiring an additional 13,925,510 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of BlackBerry by 132.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock worth $16,631,000 after acquiring an additional 3,458,275 shares during the last quarter. 54.48% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the 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 directly owns 30,129 shares in the company, valued at approximately $76,226.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

BlackBerry Stock Performance

BlackBerry stock opened at $2.43 on Wednesday. The business has a 50 day simple moving average of $2.36 and a 200 day simple moving average of $2.59. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43.

BlackBerry (NYSE:BB) last issued 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. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.33%. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BB. CIBC upgraded shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price for the company 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 note on Thursday, June 27th. Canaccord Genuity Group lowered their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research report on Friday, September 27th. Finally, Raymond James decreased their price objective on BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BlackBerry currently has an average 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.