Analysts Set BlackBerry Limited (NYSE:BB) Price Target at $3.91

Shares of BlackBerry Limited (NYSE:BB) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $3.91.

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

Insider Activity

In other news, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is owned by company insiders.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after purchasing an additional 3,811 shares during the period. Quantinno Capital Management LP bought a new position in shares of BlackBerry during the 3rd quarter worth about $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry during the 4th quarter valued at about $38,000. Mindset Wealth Management LLC acquired a new stake in shares of BlackBerry during the 4th quarter valued at about $38,000. Finally, Quadrant Capital Group LLC raised its position in BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Trading Down 0.9 %

Shares of NYSE BB opened at $3.93 on Friday. The business has a fifty day simple moving average of $4.70 and a 200-day simple moving average of $3.48. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -17.84 and a beta of 1.27. BlackBerry has a 12 month low of $2.01 and a 12 month high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

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.