Alberta Investment Management Corp Boosts Holdings in BlackBerry Limited (NYSE:BB)

Alberta Investment Management Corp raised its holdings in shares of BlackBerry Limited (NYSE:BB) by 60.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 644,900 shares of the company’s stock after acquiring an additional 243,000 shares during the period. Alberta Investment Management Corp’s holdings in BlackBerry were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Masso Torrence Wealth Management Inc. purchased a new stake in shares of BlackBerry in the 4th quarter worth $38,000. Sanctuary Advisors LLC bought a new stake in BlackBerry during the fourth quarter valued at about $40,000. Palacios Wealth Management LLC purchased a new stake in BlackBerry in the fourth quarter worth about $50,000. Quantinno Capital Management LP bought a new position in shares of BlackBerry in the third quarter worth about $38,000. Finally, Ballentine Partners LLC purchased a new position in shares of BlackBerry during the 4th quarter valued at about $65,000. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Trading Down 4.9 %

Shares of BlackBerry stock opened at $5.58 on Friday. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $4.31 and a 200-day moving average price of $3.07. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -25.34 and a beta of 1.31.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Equities research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at $1,418,831.36. This trade represents a 28.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were 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. Over the last 90 days, insiders have sold 244,221 shares of company stock worth $925,655. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

BB has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. TD Securities upgraded shares of 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 report on Friday, December 20th. Robert W. Baird upped their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada increased their price target on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six equities 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’s stock. According to MarketBeat.com, BlackBerry currently has a consensus rating of “Moderate Buy” and an average price target of $3.69.

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.