State Street Corp purchased a new position in shares of BlackBerry Limited (NYSE:BB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 393,555 shares of the company’s stock, valued at approximately $4,809,000. State Street Corp owned approximately 0.07% of BlackBerry as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of BlackBerry by 76.3% during the second quarter. Quadrant Capital Group LLC now owns 3,128 shares of the company’s stock worth $38,000 after purchasing an additional 1,354 shares in the last quarter. Credit Agricole S A increased its position in shares of BlackBerry by 74.8% during the second quarter. Credit Agricole S A now owns 3,469 shares of the company’s stock worth $42,000 after purchasing an additional 1,484 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of BlackBerry during the second quarter worth approximately $42,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BlackBerry during the second quarter worth approximately $45,000. Finally, Main Street Financial Solutions LLC purchased a new stake in shares of BlackBerry during the second quarter worth approximately $123,000. Hedge funds and other institutional investors own 45.92% of the company’s stock.
Shares of NYSE:BB opened at $9.97 on Monday. The stock has a market cap of $5.67 billion, a P/E ratio of -8.67 and a beta of 1.27. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.59. BlackBerry Limited has a 52-week low of $5.82 and a 52-week high of $28.77. The business has a fifty day moving average of $10.36 and a two-hundred day moving average of $10.83.
BlackBerry (NYSE:BB) last released its quarterly earnings results on Tuesday, September 21st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $164.28 million. BlackBerry had a negative return on equity of 5.33% and a negative net margin of 83.78%. The company’s revenue was down 32.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts anticipate that BlackBerry Limited will post -0.27 earnings per share for the current year.
Several analysts recently commented on the company. Raymond James reiterated a “market perform” rating and set a $9.50 price target on shares of BlackBerry in a research report on Thursday, September 23rd. Canaccord Genuity upgraded BlackBerry from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a report on Wednesday, August 18th. TD Securities upped their target price on BlackBerry from $8.50 to $9.00 and gave the company a “reduce” rating in a report on Thursday, September 23rd. Finally, Royal Bank of Canada restated a “sell” rating and issued a $9.50 target price on shares of BlackBerry in a report on Friday, September 17th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus target price of $10.67.
In related news, CEO John S. Chen sold 2,222,844 shares of the stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $11.14, for a total transaction of $24,762,482.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas Eacobacci sold 171,300 shares of the stock in a transaction dated Wednesday, October 6th. The stock was sold at an average price of $9.35, for a total value of $1,601,655.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,463,375 shares of company stock valued at $27,052,720. Company insiders own 1.60% of the company’s stock.
BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.
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