Public Employees Retirement System of Ohio Takes $410,000 Position in BlackBerry Limited (NYSE:BB)

Public Employees Retirement System of Ohio bought a new position in BlackBerry Limited (NYSE:BB - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 155,434 shares of the company's stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC raised its position in BlackBerry by 5,408.9% during the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company's stock valued at $8,510,000 after purchasing an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in BlackBerry by 15.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company's stock valued at $31,238,000 after purchasing an additional 1,637,916 shares during the period. Intact Investment Management Inc. lifted its holdings in BlackBerry by 508.1% in the 2nd quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company's stock worth $2,862,000 after buying an additional 956,690 shares during the period. Potrero Capital Research LLC purchased a new position in shares of BlackBerry during the third quarter valued at approximately $2,359,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company's stock valued at $1,361,000 after acquiring an additional 488,934 shares in the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the firm's stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by corporate insiders.

BlackBerry Stock Performance

BlackBerry stock traded up $0.71 during midday trading on Friday, reaching $3.69. 40,686,305 shares of the company traded hands, compared to its average volume of 9,691,644. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $3.89. 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 business has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.46. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -14.76 and a beta of 1.43.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to analysts' expectations of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company's revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. As a group, research analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

BB has been the topic of several research analyst reports. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.25 to $4.00 in a research report on Friday. Robert W. Baird raised their target price on BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a research note on Friday. CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. TD Cowen raised BlackBerry from a "hold" rating to a "buy" rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday. Finally, StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.60.

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 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.