BlackBerry Limited (NYSE:BB) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in BlackBerry Limited (NYSE:BB) by 216.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,156 shares of the company’s stock after purchasing an additional 4,893 shares during the quarter. Parallel Advisors LLC’s holdings in BlackBerry were worth $27,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BB. Legal & General Group Plc boosted its holdings in BlackBerry by 19.9% in the fourth quarter. Legal & General Group Plc now owns 33,185,748 shares of the company’s stock valued at $125,987,000 after acquiring an additional 5,518,216 shares during the last quarter. Vanguard Group Inc. lifted its holdings in BlackBerry by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company’s stock worth $86,844,000 after purchasing an additional 364,569 shares during the period. Hood River Capital Management LLC acquired a new position in shares of BlackBerry during the 4th quarter valued at $53,267,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BlackBerry by 41.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock worth $51,856,000 after acquiring an additional 4,039,483 shares in the last quarter. Finally, First Trust Advisors LP grew its position in BlackBerry by 13.9% during the 4th quarter. First Trust Advisors LP now owns 12,755,972 shares of the company’s stock worth $48,218,000 after purchasing an additional 1,558,904 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Trading Up 1.9%

BlackBerry stock opened at $4.21 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50-day moving average of $3.57 and a 200-day moving average of $3.91. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -19.14 and a beta of 1.45.

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

Insiders Place Their Bets

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares in the company, valued at $126,770.02. This represents a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 37,216 shares of company stock worth $112,025 in the last quarter. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BB. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research note on Friday. CIBC lowered their price target on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 3rd. Canaccord Genuity Group dropped their target price on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research report on Thursday, April 3rd. Five 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. According to data from MarketBeat.com, BlackBerry has a consensus rating of “Moderate Buy” and a consensus price target of $4.12.

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.