BlackBerry Limited (BBRY) Stake Decreased by Westpac Banking Corp
Westpac Banking Corp lessened its holdings in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 58.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,653 shares of the company’s stock after selling 50,118 shares during the period. Westpac Banking Corp’s holdings in BlackBerry Limited were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of BlackBerry Limited by 5.0% during the first quarter. Vanguard Group Inc. now owns 10,428,072 shares of the company’s stock valued at $80,818,000 after buying an additional 493,101 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of BlackBerry Limited by 83.9% during the first quarter. OppenheimerFunds Inc. now owns 7,357,607 shares of the company’s stock valued at $57,005,000 after buying an additional 3,356,948 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of BlackBerry Limited by 2.2% during the second quarter. TD Asset Management Inc. now owns 4,086,249 shares of the company’s stock valued at $40,777,000 after buying an additional 87,970 shares during the last quarter. Letko Brosseau & Associates Inc. raised its holdings in shares of BlackBerry Limited by 6.8% during the first quarter. Letko Brosseau & Associates Inc. now owns 3,643,805 shares of the company’s stock valued at $28,172,000 after buying an additional 231,475 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of BlackBerry Limited during the second quarter valued at approximately $18,807,000. 63.36% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. Raymond James Financial, Inc. cut BlackBerry Limited from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $9.50 to $11.00 in a report on Monday, May 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.50 price target on shares of BlackBerry Limited in a report on Monday, June 26th. BidaskClub cut BlackBerry Limited from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of BlackBerry Limited in a report on Sunday, August 13th. Finally, William Blair reaffirmed a “market perform” rating on shares of BlackBerry Limited in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.56.
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BlackBerry Limited (NASDAQ BBRY) opened at 9.27 on Friday. BlackBerry Limited has a 52-week low of $6.65 and a 52-week high of $11.74. The firm’s 50-day moving average is $9.07 and its 200 day moving average is $9.17. The stock has a market capitalization of $4.92 billion, a PE ratio of 38.15 and a beta of 0.99.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its earnings results on Friday, June 23rd. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $262.80 million. The business’s revenue was down 42.5% compared to the same quarter last year. On average, equities analysts forecast that BlackBerry Limited will post $0.04 earnings per share for the current year.
BlackBerry Limited announced that its Board of Directors has approved a stock buyback plan on Friday, June 23rd that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
BlackBerry Limited Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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