BlackBerry Limited (NYSE:BB) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lowered its stake in BlackBerry Limited (NYSE:BB) by 25.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,045 shares of the company’s stock after selling 9,844 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in BlackBerry were worth $103,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in BlackBerry by 9.6% in the 4th quarter. Legal & General Group Plc now owns 21,101,291 shares of the company’s stock valued at $68,679,000 after purchasing an additional 1,855,903 shares in the last quarter. Vanguard Group Inc. lifted its holdings in BlackBerry by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock valued at $90,548,000 after purchasing an additional 534,772 shares in the last quarter. Norges Bank purchased a new position in BlackBerry in the 4th quarter valued at $38,430,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in BlackBerry by 17.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,229,327 shares of the company’s stock valued at $32,672,000 after purchasing an additional 1,362,284 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BlackBerry by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock valued at $41,164,000 after purchasing an additional 3,245,600 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BB shares. CIBC decreased their price objective on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Raymond James reduced their price target on BlackBerry from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, December 21st. TD Securities reduced their price target on BlackBerry from $4.00 to $3.75 and set a “hold” rating on the stock in a report on Thursday, December 21st. Canaccord Genuity Group reduced their price target on BlackBerry from $5.00 to $4.25 and set a “hold” rating on the stock in a report on Thursday, December 21st. Finally, StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackBerry presently has an average rating of “Hold” and an average target price of $4.08.

BlackBerry Stock Up 1.4 %

Shares of BB opened at $2.80 on Friday. BlackBerry Limited has a 12-month low of $2.46 and a 12-month high of $5.75. The company’s 50-day moving average price is $2.79 and its 200 day moving average price is $3.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analyst estimates of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. BlackBerry’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. Equities research analysts expect that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Insider Activity at BlackBerry

In related news, Director Philip G. Brace acquired 35,000 shares of BlackBerry stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at $97,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.94% of the stock is owned by insiders.

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.