CIBC Asset Management Inc Has $2.69 Million Position in BlackBerry Limited (NYSE:BB)

CIBC Asset Management Inc increased its position in BlackBerry Limited (NYSE:BB) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 709,720 shares of the company’s stock after buying an additional 8,787 shares during the period. CIBC Asset Management Inc’s holdings in BlackBerry were worth $2,690,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after buying an additional 93,651 shares during the last quarter. Milestone Asset Management LLC acquired a new position in BlackBerry during the fourth quarter valued at approximately $557,000. Intact Investment Management Inc. grew its holdings in BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in BlackBerry during the third quarter valued at approximately $1,285,000. Finally, State Street Corp grew its holdings in BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after purchasing an additional 24,309 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other BlackBerry news, insider Mattias Eriksson sold 14,475 shares of BlackBerry stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $53,268.00. Following the completion of the transaction, the insider now directly owns 238,838 shares of the company’s stock, valued at approximately $878,923.84. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock valued at $925,655 over the last ninety days. 0.34% of the stock is owned by company insiders.

BlackBerry Stock Down 4.9 %

BB opened at $5.58 on Friday. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -25.34 and a beta of 1.31. The business has a 50 day moving average of $4.31 and a 200-day moving average of $3.07.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. As a group, sell-side analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current year.

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.