Maryland State Retirement & Pension System Sells 85,152 Shares of BlackBerry Limited (NYSE:BB)

Maryland State Retirement & Pension System trimmed its position in BlackBerry Limited (NYSE:BB) by 19.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 345,143 shares of the company’s stock after selling 85,152 shares during the period. Maryland State Retirement & Pension System owned about 0.06% of BlackBerry worth $1,201,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BB. SG Americas Securities LLC raised its stake in shares of BlackBerry by 31.3% during the third quarter. SG Americas Securities LLC now owns 89,360 shares of the company’s stock worth $421,000 after buying an additional 21,324 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of BlackBerry by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,025 shares of the company’s stock valued at $509,000 after acquiring an additional 12,607 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of BlackBerry by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 503,926 shares of the company’s stock valued at $2,393,000 after purchasing an additional 16,280 shares during the period. Fox Run Management L.L.C. bought a new position in shares of BlackBerry in the 3rd quarter worth $195,000. Finally, Barclays PLC grew its stake in shares of BlackBerry by 3.1% during the third quarter. Barclays PLC now owns 256,199 shares of the company’s stock worth $1,207,000 after purchasing an additional 7,785 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BB shares. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a report on Thursday, April 4th. StockNews.com lowered shares of BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. CIBC decreased their price target on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Robert W. Baird dropped their price objective on BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.08.

BlackBerry Price Performance

BB stock opened at $2.87 on Thursday. The stock has a 50-day moving average price of $2.83 and a two-hundred day moving average price of $3.21. BlackBerry Limited has a 1 year low of $2.46 and a 1 year high of $5.75. The stock has a market cap of $1.69 billion, a PE ratio of -11.94 and a beta of 1.40. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

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

Insiders Place Their Bets

In related news, Director Philip G. Brace purchased 35,000 shares of BlackBerry stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $2.79 per share, with a total value of $97,650.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $97,650. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.94% of the company’s stock.

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 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.