Marshall Wace LLP Reduces Stock Position in BlackBerry Limited (NYSE:BB)

Marshall Wace LLP reduced its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,368,358 shares of the company's stock after selling 362,373 shares during the quarter. Marshall Wace LLP owned 0.57% of BlackBerry worth $12,732,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BB. State Street Corp raised its holdings in BlackBerry by 1.9% in the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company's stock worth $3,431,000 after purchasing an additional 24,309 shares during the period. Barclays PLC raised its stake in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company's stock worth $652,000 after buying an additional 93,651 shares during the period. Geode Capital Management LLC lifted its position in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company's stock valued at $706,000 after buying an additional 7,652 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of BlackBerry during the 4th quarter valued at approximately $65,000. Finally, Foundations Investment Advisors LLC purchased a new stake in BlackBerry in the 4th quarter worth approximately $95,000. 54.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BB. CIBC dropped their price target on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research report on Thursday, April 3rd. Canaccord Genuity Group dropped their target price on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price target on BlackBerry in a report on Thursday, April 3rd. Finally, StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.12.

Insider Activity at BlackBerry

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm'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 value of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. This trade represents a 41.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 37,216 shares of company stock valued at $112,025 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

BlackBerry Price Performance

BB stock traded down $0.01 during mid-day trading on Friday, hitting $3.37. The company had a trading volume of 9,008,263 shares, compared to its average volume of 13,868,125. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -15.32 and a beta of 1.30. The company has a 50-day moving average price of $3.99 and a 200 day moving average price of $3.59. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. 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 posted its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm's revenue for the quarter was down 7.3% on a year-over-year basis. On average, research analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current year.

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.