JPMorgan Chase & Co. Increases Position in BlackBerry Limited (NYSE:BB)

JPMorgan Chase & Co. grew its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 36.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,781,820 shares of the company's stock after acquiring an additional 480,205 shares during the period. JPMorgan Chase & Co. owned about 0.30% of BlackBerry worth $6,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BB. Vanguard Group Inc. boosted its stake in BlackBerry by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company's stock valued at $86,844,000 after buying an additional 364,569 shares during the period. LPL Financial LLC boosted its stake in BlackBerry by 92.7% during the fourth quarter. LPL Financial LLC now owns 192,824 shares of the company's stock valued at $729,000 after buying an additional 92,738 shares during the period. Sei Investments Co. boosted its stake in BlackBerry by 261.7% during the fourth quarter. Sei Investments Co. now owns 425,129 shares of the company's stock valued at $1,607,000 after buying an additional 307,582 shares during the period. Quantbot Technologies LP bought a new stake in BlackBerry during the fourth quarter valued at $309,000. Finally, Virtu Financial LLC boosted its stake in BlackBerry by 117.3% during the fourth quarter. Virtu Financial LLC now owns 309,583 shares of the company's stock valued at $1,170,000 after buying an additional 167,145 shares during the period. 54.48% of the stock is owned by institutional investors.

BlackBerry Price Performance

Shares of BB traded up $0.18 during mid-day trading on Wednesday, hitting $3.35. 3,693,394 shares of the stock were exchanged, compared to its average volume of 22,599,619. The company has a market cap of $2.00 billion, a PE ratio of -15.23 and a beta of 1.30. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $6.24. The firm has a 50-day moving average of $4.19 and a two-hundred day moving average of $3.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) 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 firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. During the same quarter last year, the business earned $0.03 EPS. The business's revenue was down 7.3% on a year-over-year basis. On average, equities analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction dated Friday, April 4th. The shares were 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 owns 42,398 shares in the company, valued at approximately $126,770.02. The trade was a 41.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the business's stock in a transaction dated Friday, January 24th. The shares were 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. In the last ninety days, insiders sold 61,641 shares of company stock valued at $214,365. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

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

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.