BlackBerry Limited (NYSE:BB) Given Average Recommendation of “Moderate Buy” by Analysts

BlackBerry Limited (NYSE:BB) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $3.91.

A number of research firms have weighed in on BB. Canaccord Genuity Group raised their price target on shares of BlackBerry from $3.00 to $4.75 and gave the stock a “hold” rating in a research note on Tuesday, March 11th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research report on Friday, January 10th. Robert W. Baird raised their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th.

Insider Buying and Selling at BlackBerry

In related news, insider Mattias Eriksson sold 14,475 shares of BlackBerry stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the completion of the sale, the insider now owns 238,838 shares of the company’s stock, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the transaction, the chief executive officer now directly owns 385,552 shares in the company, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock worth $925,655 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of BlackBerry by 3.8% during the fourth quarter. Mackenzie Financial Corp now owns 353,306 shares of the company’s stock worth $1,341,000 after buying an additional 13,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in BlackBerry by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,155 shares of the company’s stock worth $3,074,000 after purchasing an additional 26,129 shares in the last quarter. Vident Advisory LLC bought a new stake in BlackBerry in the 4th quarter valued at about $2,938,000. Two Sigma Advisers LP grew its position in shares of BlackBerry by 105.2% during the 4th quarter. Two Sigma Advisers LP now owns 920,458 shares of the company’s stock worth $3,479,000 after purchasing an additional 471,800 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of BlackBerry by 293.7% during the fourth quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company’s stock worth $17,207,000 after purchasing an additional 3,395,786 shares during the period. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Down 4.5 %

Shares of NYSE:BB opened at $3.97 on Friday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -18.02 and a beta of 1.27. BlackBerry has a 12 month low of $2.01 and a 12 month high of $6.24. The company’s fifty day simple moving average is $4.70 and its 200 day simple moving average is $3.46. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry Company 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.