Primecap Management Co. CA Sells 23,734,135 Shares of BlackBerry Limited (NYSE:BB)

Primecap Management Co. CA reduced its stake in BlackBerry Limited (NYSE:BB - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,562,076 shares of the company's stock after selling 23,734,135 shares during the quarter. Primecap Management Co. CA owned about 0.77% of BlackBerry worth $17,245,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Quantinno Capital Management LP acquired a new position in shares of BlackBerry in the third quarter valued at about $38,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry in the 4th quarter valued at about $38,000. Sanctuary Advisors LLC acquired a new position in shares of BlackBerry during the 4th quarter worth approximately $40,000. HighTower Advisors LLC bought a new position in shares of BlackBerry during the fourth quarter worth approximately $41,000. Finally, Bravias Capital Group LLC acquired a new stake in shares of BlackBerry in the fourth quarter valued at approximately $45,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackBerry

In other BlackBerry news, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now owns 385,552 shares in the company, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mattias Eriksson sold 12,680 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the sale, the insider now directly owns 278,306 shares of the company's stock, valued at $1,113,224. This trade represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock valued at $925,655 in the last quarter. 0.34% of the stock is currently owned by company insiders.

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BlackBerry Trading Up 2.7 %

Shares of NYSE BB traded up $0.12 during midday trading on Monday, reaching $4.45. The stock had a trading volume of 10,541,206 shares, compared to its average volume of 13,163,903. BlackBerry Limited has a twelve month low of $2.01 and a twelve 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 company's 50 day moving average price is $4.69 and its 200 day moving average price is $3.42. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -20.20 and a beta of 1.27.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million for the quarter, compared to analysts' expectations of $144.84 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business's quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that BlackBerry Limited will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

BB has been the topic of a number of analyst reports. StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a research report on Friday, December 20th. TD Securities upgraded BlackBerry from a "hold" rating to a "buy" rating and lifted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Canaccord Genuity Group upped their price objective on BlackBerry from $3.00 to $4.75 and gave the stock a "hold" rating in a research report on Tuesday, March 11th. Finally, 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 note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BlackBerry has an average rating of "Moderate Buy" and an average target price of $3.91.

About BlackBerry

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.