Bank of Montreal Can Sells 377,847 Shares of BlackBerry Limited (NYSE:BB)

Bank of Montreal Can lowered its position in BlackBerry Limited (NYSE:BB) by 21.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,355,962 shares of the company’s stock after selling 377,847 shares during the period. Bank of Montreal Can’s holdings in BlackBerry were worth $3,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 worth $53,835,000 after purchasing an additional 149,444 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of BlackBerry by 36.2% in the 2nd quarter. SG Americas Securities LLC now owns 130,114 shares of the company’s stock worth $323,000 after acquiring an additional 34,615 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of BlackBerry by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after acquiring an additional 9,156 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of BlackBerry by 39.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,315,157 shares of the company’s stock worth $3,262,000 after buying an additional 369,283 shares during the period. Finally, Intact Investment Management Inc. increased its stake in shares of BlackBerry by 508.1% in the second quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company’s stock worth $2,862,000 after buying an additional 956,690 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research report on Friday, September 27th. Seven equities research 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, the stock has a consensus rating of “Hold” and an average price target of $3.23.

Insiders Place Their Bets

In related news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

BlackBerry Stock Up 1.4 %

NYSE BB opened at $2.58 on Thursday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -10.30 and a beta of 1.43. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $4.44. 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 company has a fifty day moving average of $2.44 and a two-hundred day moving average of $2.45.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm 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%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current year.

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.