JPMorgan Chase & Co. Has $3.41 Million Stake in BlackBerry Limited (NYSE:BB)

JPMorgan Chase & Co. lessened its holdings in shares of BlackBerry Limited (NYSE:BB - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,301,615 shares of the company's stock after selling 370,107 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of BlackBerry worth $3,410,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BB. Barclays PLC lifted its position 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 last quarter. Toronto Dominion Bank increased its position in BlackBerry by 5.3% during the third quarter. Toronto Dominion Bank now owns 718,314 shares of the company's stock worth $1,882,000 after acquiring an additional 36,372 shares during the period. Geode Capital Management LLC raised its stake in 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 purchasing an additional 7,652 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in BlackBerry in the 3rd quarter valued at $410,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company's stock valued at $99,000 after buying an additional 20,771 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Price Performance

Shares of BB traded down $0.23 during mid-day trading on Friday, hitting $3.99. 17,287,846 shares of the company traded hands, compared to its average volume of 16,549,552. 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 business has a 50-day moving average of $3.17 and a 200 day moving average of $2.66. BlackBerry Limited has a one year low of $2.01 and a one year high of $4.35. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter last year, the firm earned $0.01 EPS. The company's revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BB. CIBC raised their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Friday, December 20th. TD Cowen raised shares of BlackBerry from a "hold" rating to a "buy" rating and raised their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada increased their price target on shares of BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a research report on Friday, January 10th. Finally, TD Securities raised 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 report on Friday, December 20th. Six investment 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's stock. According to MarketBeat, BlackBerry has a consensus rating of "Moderate Buy" and a consensus price target of $3.69.

Insider Buying and Selling

In related news, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company's stock, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the transaction, the insider now directly owns 278,306 shares of the company's stock, valued at $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,796 shares of company stock valued at $823,314. 0.34% of the stock is owned by company insiders.

BlackBerry 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.