Mirae Asset Global Investments Co. Ltd. Buys 34,295 Shares of BlackBerry Limited (NYSE:BB)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in BlackBerry Limited (NYSE:BB) by 9.1% during the third quarter, Holdings Channel reports. The institutional investor owned 412,782 shares of the company’s stock after acquiring an additional 34,295 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackBerry were worth $1,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. EP Wealth Advisors LLC bought a new position in BlackBerry during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the period. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry in the 2nd quarter worth approximately $43,000. Viewpoint Capital Management LLC bought a new position in shares of BlackBerry in the 2nd quarter worth approximately $50,000. Finally, International Assets Investment Management LLC raised its stake in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares during the period. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Trading Up 0.4 %

Shares of BB opened at $2.27 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.44. The company has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $2.53. The firm has a market cap of $1.34 billion, a P/E ratio of -9.08 and a beta of 1.40.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. During the same period last year, the firm posted ($0.06) earnings per share. BlackBerry’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on BB. CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.23.

Insider Activity at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.