Migdal Insurance & Financial Holdings Ltd. Sells 9,844 Shares of BlackBerry Limited (NYSE:BB)

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of BlackBerry Limited (NYSE:BB) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,045 shares of the company’s stock after selling 9,844 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in BlackBerry were worth $103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc increased its stake in BlackBerry by 9.6% during the 4th quarter. Legal & General Group Plc now owns 21,101,291 shares of the company’s stock valued at $68,679,000 after purchasing an additional 1,855,903 shares in the last quarter. Vanguard Group Inc. increased its stake in BlackBerry by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock valued at $90,548,000 after purchasing an additional 534,772 shares in the last quarter. Norges Bank bought a new stake in BlackBerry during the 4th quarter valued at about $38,430,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of BlackBerry by 17.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,229,327 shares of the company’s stock valued at $32,672,000 after acquiring an additional 1,362,284 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of BlackBerry by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock valued at $41,164,000 after acquiring an additional 3,245,600 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Philip G. Brace bought 35,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $2.79 per share, for a total transaction of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $97,650. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. CIBC dropped their price target on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Canaccord Genuity Group dropped their price target on shares of BlackBerry from $5.00 to $4.25 and set a “hold” rating on the stock in a report on Thursday, December 21st. Raymond James dropped their price target on shares of BlackBerry from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, December 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.08.

BlackBerry Trading Up 1.4 %

BB opened at $2.80 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The company’s 50 day moving average is $2.79 and its 200 day moving average is $3.30. BlackBerry Limited has a 12-month low of $2.46 and a 12-month high of $5.75.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The company had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) earnings per share. As a group, equities analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.