First Trust Advisors LP Acquires 13,925,510 Shares of BlackBerry Limited (NYSE:BB)

First Trust Advisors LP raised its stake in shares of BlackBerry Limited (NYSE:BBFree Report) by 70.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,801,506 shares of the company’s stock after purchasing an additional 13,925,510 shares during the quarter. First Trust Advisors LP owned 5.77% of BlackBerry worth $119,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BB. Vanguard Group Inc. increased its position 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 acquiring an additional 534,772 shares in the last quarter. Norges Bank bought a new position in BlackBerry in the 4th quarter valued at $48,775,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of BlackBerry by 17.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,229,327 shares of the company’s stock worth $32,672,000 after acquiring an additional 1,362,284 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BlackBerry by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock valued at $41,164,000 after acquiring an additional 3,245,600 shares during the period. Finally, Hawk Ridge Capital Management LP acquired a new stake in BlackBerry in the third quarter worth about $21,316,000. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Price Performance

NYSE:BB traded up $0.04 during trading hours on Wednesday, hitting $2.75. The company’s stock had a trading volume of 637,092 shares, compared to its average volume of 9,751,259. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $1.62 billion, a P/E ratio of -11.33 and a beta of 1.37. BlackBerry Limited has a twelve month low of $2.46 and a twelve month high of $5.75. The stock has a fifty day simple moving average of $2.89 and a 200-day simple moving average of $3.11.

BlackBerry (NYSE:BBGet Free Report) last posted its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, analysts anticipate that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BB has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a report on Thursday, April 4th. StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Robert W. Baird decreased their price objective on BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, CIBC reduced their target price on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, BlackBerry currently has an average rating of “Hold” and a consensus target price of $4.08.

Read Our Latest Analysis on BlackBerry

BlackBerry Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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