JT Stratford LLC purchased a new stake in shares of BlackBerry Ltd (NYSE:BB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,914 shares of the company’s stock, valued at approximately $352,000.
Other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA bought a new position in BlackBerry in the 3rd quarter worth $839,034,000. Iridian Asset Management LLC CT bought a new position in BlackBerry in the 3rd quarter worth $151,316,000. Ontario Teachers Pension Plan Board bought a new position in BlackBerry in the 3rd quarter worth $90,990,000. TD Asset Management Inc. bought a new position in BlackBerry in the 3rd quarter worth $51,825,000. Finally, Kahn Brothers Group Inc. DE bought a new position in BlackBerry in the 3rd quarter worth $52,025,000. Institutional investors own 53.72% of the company’s stock.
BB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 4th. Raymond James upped their target price on shares of BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a research report on Monday, October 1st. CIBC raised shares of BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Monday, November 19th. They noted that the move was a valuation call. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of BlackBerry in a research report on Friday, November 16th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $12.13.
NYSE:BB opened at $8.26 on Friday. The stock has a market capitalization of $4.55 billion, a PE ratio of 165.20 and a beta of 1.80. The company has a current ratio of 6.43, a quick ratio of 6.43 and a debt-to-equity ratio of 0.30. BlackBerry Ltd has a 1-year low of $8.06 and a 1-year high of $14.55.
BlackBerry (NYSE:BB) last released its earnings results on Friday, September 28th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. BlackBerry had a negative net margin of 34.24% and a positive return on equity of 0.61%. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $209.41 million. During the same period in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 14.1% compared to the same quarter last year.
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BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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