State Street Corp Purchases 24,309 Shares of BlackBerry Limited (NYSE:BB)

State Street Corp lifted its position in BlackBerry Limited (NYSE:BB) by 1.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,309,606 shares of the company’s stock after acquiring an additional 24,309 shares during the period. State Street Corp’s holdings in BlackBerry were worth $3,431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in BlackBerry in the 2nd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the period. Quantinno Capital Management LP purchased a new stake in BlackBerry during the third quarter valued at $38,000. Werba Rubin Papier Wealth Management purchased a new stake in BlackBerry during the second quarter valued at $43,000. Finally, Signaturefd LLC lifted its holdings in BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Analyst Ratings Changes

BB has been the subject of several research reports. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. CIBC increased their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, Robert W. Baird boosted their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

BlackBerry Trading Down 2.0 %

Shares of BB opened at $3.83 on Tuesday. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.06. The company has a 50 day simple moving average of $2.72 and a two-hundred day simple moving average of $2.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $2.27 billion, a P/E ratio of -15.32 and a beta of 1.43.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period in the previous year, the firm posted $0.01 EPS. BlackBerry’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

BlackBerry 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.