BlackBerry Limited (NYSE:BB) Holdings Lifted by Bank of Montreal Can

Bank of Montreal Can grew its holdings in shares of BlackBerry Limited (NYSE:BB) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,650,896 shares of the company’s stock after buying an additional 294,934 shares during the period. Bank of Montreal Can owned 0.28% of BlackBerry worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its position in shares of BlackBerry by 60.2% during the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after buying an additional 93,651 shares in the last quarter. Milestone Asset Management LLC bought a new stake in BlackBerry during the fourth quarter worth approximately $557,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in BlackBerry by 41.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock worth $51,856,000 after purchasing an additional 4,039,483 shares during the period. Alberta Investment Management Corp boosted its stake in BlackBerry by 60.5% during the 4th quarter. Alberta Investment Management Corp now owns 644,900 shares of the company’s stock valued at $2,448,000 after purchasing an additional 243,000 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of BlackBerry during the 4th quarter valued at $641,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $3.22 on Tuesday. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.92 billion, a PE ratio of -14.64 and a beta of 1.30. The business has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $3.55.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BB. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird boosted their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Friday. CIBC decreased their price target on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 price objective on BlackBerry in a research report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.12.

Insider Activity at BlackBerry

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,641 shares of company stock valued at $214,365. Corporate insiders own 0.34% of the company’s stock.

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.