Legal & General Group Plc Boosts Stock Position in BlackBerry Limited (NYSE:BB)

Legal & General Group Plc increased its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,185,748 shares of the company's stock after buying an additional 5,518,216 shares during the period. Legal & General Group Plc owned about 5.61% of BlackBerry worth $125,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in BlackBerry by 3.8% during the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company's stock valued at $435,000 after acquiring an additional 4,226 shares in the last quarter. Bank of Montreal Can raised its position in shares of BlackBerry by 21.8% during the 4th quarter. Bank of Montreal Can now owns 1,650,896 shares of the company's stock worth $6,263,000 after purchasing an additional 294,934 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after buying an additional 5,008 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in BlackBerry by 95.8% during the 4th quarter. Russell Investments Group Ltd. now owns 954,397 shares of the company's stock valued at $3,610,000 after buying an additional 466,972 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in BlackBerry by 24.4% during the fourth quarter. Wells Fargo & Company MN now owns 114,906 shares of the company's stock worth $434,000 after buying an additional 22,567 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Trading Up 0.5 %

Shares of BB traded up $0.02 during trading hours on Wednesday, hitting $3.25. The stock had a trading volume of 3,252,946 shares, compared to its average volume of 23,207,947. The company's fifty day simple moving average is $4.37 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $1.93 billion, a P/E ratio of -14.75 and a beta of 1.30.

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

Analysts Set New Price Targets

BB has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a research note on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Friday, April 11th. TD Securities raised shares of BlackBerry from a "hold" rating to a "buy" rating and upped their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Canaccord Genuity Group lowered their target price on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Finally, CIBC reduced their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research note on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.12.

Insider Transactions at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm's stock in a transaction dated 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 approximately $126,770.02. This trade represents a 41.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jay P. Chai sold 24,425 shares of the company'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 value of $102,340.75. The disclosure for this sale can be found here. Insiders sold 61,641 shares of company stock valued at $214,365 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

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.