Northwest & Ethical Investments L.P. Grows Stake in BlackBerry Limited (NYSE:BB)

Northwest & Ethical Investments L.P. boosted its position in shares of BlackBerry Limited (NYSE:BB) by 212.3% during the 4th quarter, HoldingsChannel reports. The firm owned 110,062 shares of the company’s stock after buying an additional 74,820 shares during the period. Northwest & Ethical Investments L.P.’s holdings in BlackBerry were worth $417,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 purchasing an additional 4,039,483 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of BlackBerry by 15.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after acquiring an additional 1,637,916 shares during the period. State Street Corp increased its holdings in shares of BlackBerry by 1.9% in the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after acquiring an additional 24,309 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of BlackBerry by 1.0% in 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 acquiring an additional 11,899 shares during the period. Finally, Swiss National Bank increased its holdings in shares of BlackBerry by 0.6% in the 4th quarter. Swiss National Bank now owns 1,109,350 shares of the company’s stock valued at $4,212,000 after acquiring an additional 6,700 shares during the period. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Stock Performance

Shares of BB opened at $4.33 on Friday. The stock has a 50-day moving average of $4.69 and a two-hundred day moving average of $3.41. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. 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 stock has a market cap of $2.58 billion, a P/E ratio of -19.66 and a beta of 1.27.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business 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%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, research analysts predict that BlackBerry Limited will post -0.03 EPS for the current year.

Insider Activity

In related news, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. The trade was a 28.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $102,340.75. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock valued at $925,655 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BB. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a research report 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 report on Friday, January 10th. Finally, Canaccord Genuity Group raised their price objective on BlackBerry from $3.00 to $4.75 and gave the stock a “hold” rating in a research report on Tuesday, March 11th. Six investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.91.

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.