Renaissance Technologies LLC Buys Shares of 5,154,843 BlackBerry Limited (NYSE:BB)

Renaissance Technologies LLC bought a new position in shares of BlackBerry Limited (NYSE:BB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,154,843 shares of the company's stock, valued at approximately $19,485,000. Renaissance Technologies LLC owned about 0.87% of BlackBerry as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Barclays PLC raised its holdings in shares of BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company's stock valued at $652,000 after purchasing an additional 93,651 shares during the period. Milestone Asset Management LLC purchased a new position in BlackBerry during the fourth quarter worth about $557,000. Connor Clark & Lunn Investment Management Ltd. grew its position in BlackBerry by 41.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock worth $51,856,000 after purchasing an additional 4,039,483 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of BlackBerry by 60.5% during the 4th quarter. Alberta Investment Management Corp now owns 644,900 shares of the company's stock worth $2,448,000 after buying an additional 243,000 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of BlackBerry in the fourth quarter valued at approximately $641,000. Institutional investors own 54.48% of the company's stock.

BlackBerry Stock Down 1.1 %

NYSE:BB traded down $0.04 on Friday, reaching $3.17. 16,343,136 shares of the stock traded hands, compared to its average volume of 13,705,111. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 1.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company's fifty day simple moving average is $4.29 and its 200 day simple moving average is $3.55. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $141.70 million for the quarter, compared to analysts' expectations of $137.56 million. During the same quarter last year, the company posted $0.03 EPS. The company's revenue was down 7.3% compared to the same quarter last year. Equities analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BB shares. Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research report on Thursday, April 3rd. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and lifted their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. StockNews.com upgraded BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a report on Friday, December 20th. Finally, TD Cowen raised BlackBerry from a "hold" rating to a "buy" rating and lifted their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.12.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now directly owns 42,398 shares in the company, valued at $126,770.02. This represents a 41.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Jay P. Chai sold 24,425 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders have sold 61,641 shares of company stock valued at $214,365 over the last 90 days. 0.34% of the stock is currently owned by corporate 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 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.