Bank Julius Baer & Co. Ltd Zurich Buys New Position in BlackBerry Limited (NYSE:BB)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of BlackBerry Limited (NYSE:BB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 294,066 shares of the company’s stock, valued at approximately $1,112,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP bought a new stake in BlackBerry during the 3rd quarter valued at approximately $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $38,000. Sanctuary Advisors LLC acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $40,000. Bravias Capital Group LLC acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $45,000. Finally, Palacios Wealth Management LLC acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $50,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 2.6 %

Shares of BB opened at $4.53 on Monday. The stock has a fifty day moving average price of $4.59 and a two-hundred day moving average price of $3.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $6.24. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -20.57 and a beta of 1.27.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. Analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In other news, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Joseph Giamatteo sold 155,815 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock worth $925,655 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

BB has been the topic of several recent research reports. Robert W. Baird lifted their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group raised their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised their target price on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

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.