BlackBerry Limited (NYSE:BB) Receives $3.91 Average PT from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.91.

Several analysts have recently weighed in on BB shares. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada raised their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, January 10th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Canaccord Genuity Group upped their price objective on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research note on Tuesday, March 11th.

Insider Buying and Selling

In other news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the transaction, the insider now directly owns 278,306 shares in the company, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction that occurred on 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 worth $925,655 in the last three months. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after purchasing an additional 3,811 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of BlackBerry during the 3rd quarter worth about $38,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of BlackBerry during the 4th quarter worth about $38,000. Mindset Wealth Management LLC acquired a new stake in shares of BlackBerry in the 4th quarter worth approximately $38,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after acquiring an additional 5,008 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Trading Down 0.9 %

NYSE BB opened at $3.93 on Friday. The stock has a market cap of $2.34 billion, a P/E ratio of -17.84 and a beta of 1.27. The company’s fifty day simple moving average is $4.70 and its 200-day simple moving average is $3.48. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a 52 week low of $2.01 and a 52 week high of $6.24.

BlackBerry Company 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.