State Street Corp Purchases 24,309 Shares of BlackBerry Limited (NYSE:BB)

State Street Corp boosted its holdings in shares of BlackBerry Limited (NYSE:BB) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,309,606 shares of the company’s stock after buying an additional 24,309 shares during the period. State Street Corp owned approximately 0.22% of BlackBerry worth $3,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BB. Millennium Management LLC raised its holdings in shares of BlackBerry by 5,408.9% in the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after acquiring an additional 3,369,296 shares in the last quarter. Bank of Montreal Can lifted its position in BlackBerry by 32.7% during the second quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock valued at $4,300,000 after purchasing an additional 427,083 shares during the last quarter. TD Asset Management Inc grew its stake in BlackBerry by 1.4% in the 2nd quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock worth $3,740,000 after buying an additional 21,259 shares in the last quarter. Intact Investment Management Inc. grew its stake in BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after buying an additional 294,250 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BlackBerry by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock valued at $3,194,000 after buying an additional 11,899 shares in the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Stock Down 2.0 %

Shares of NYSE:BB opened at $3.83 on Tuesday. The company has a market cap of $2.27 billion, a PE ratio of -15.32 and a beta of 1.43. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.06. The stock’s 50-day moving average is $2.72 and its 200 day moving average is $2.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same period in the prior year, the business earned $0.01 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

BB has been the subject of several research reports. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Robert W. Baird increased their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Canaccord Genuity Group boosted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BlackBerry presently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

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.