Mirae Asset Global Investments Co. Ltd. Has $1.11 Million Position in BlackBerry Limited (NYSE:BB)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of BlackBerry Limited (NYSE:BB) by 31.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 282,962 shares of the company’s stock after selling 129,820 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackBerry were worth $1,106,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Milestone Asset Management LLC acquired a new stake in shares of BlackBerry during the fourth quarter worth $557,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of BlackBerry during the 4th quarter worth about $38,000. Foundations Investment Advisors LLC bought a new stake in shares of BlackBerry in the 4th quarter valued at about $95,000. Ballentine Partners LLC acquired a new stake in shares of BlackBerry in the 4th quarter valued at approximately $65,000. Finally, Barclays PLC boosted its stake in BlackBerry by 60.2% during the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after acquiring an additional 93,651 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

Insiders Place Their Bets

In other BlackBerry news, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock valued at $925,655 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

BlackBerry Stock Down 5.0 %

NYSE:BB opened at $5.27 on Wednesday. The stock has a 50-day simple moving average of $3.88 and a 200 day simple moving average of $2.91. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $5.65. The company has a market cap of $3.11 billion, a PE ratio of -23.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

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

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.