Arrowstreet Capital Limited Partnership Buys New Shares in BlackBerry Limited (NYSE:BB)

Arrowstreet Capital Limited Partnership purchased a new position in BlackBerry Limited (NYSE:BB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,772,152 shares of the company’s stock, valued at approximately $10,514,000. Arrowstreet Capital Limited Partnership owned approximately 0.47% of BlackBerry as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry during the 4th quarter worth approximately $38,000. Mindset Wealth Management LLC purchased a new stake in BlackBerry in the 4th quarter worth $38,000. Sanctuary Advisors LLC purchased a new stake in shares of BlackBerry during the fourth quarter worth about $40,000. HighTower Advisors LLC bought a new stake in BlackBerry during the 4th quarter valued at approximately $41,000. Finally, Bravias Capital Group LLC purchased a new position in BlackBerry in the 4th quarter worth approximately $45,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Down 4.3 %

Shares of NYSE BB opened at $3.01 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $4.63 and its 200-day moving average price is $3.51. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -13.66 and a beta of 1.30.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, sell-side analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John Joseph Giamatteo sold 29,402 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the transaction, the chief executive officer now owns 490,761 shares of the company’s stock, valued at $1,963,044. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the transaction, the insider now directly owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,388 shares of company stock worth $288,882 in the last ninety days. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on BB shares. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price objective on shares of BlackBerry in a research note on Tuesday, April 1st. Canaccord Genuity Group decreased their price target on shares of BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research note on Thursday. CIBC reduced their target price on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a report on Thursday. Finally, 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 research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry has an average rating of “Hold” and a consensus target price of $4.15.

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.