BlackBerry Limited (NYSE:BB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in BlackBerry Limited (NYSE:BB) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 787,026 shares of the company’s stock after selling 73,649 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of BlackBerry worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BB. EP Wealth Advisors LLC acquired a new stake in BlackBerry during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. increased its stake in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in BlackBerry during the second quarter worth about $43,000. Viewpoint Capital Management LLC acquired a new stake in BlackBerry during the second quarter worth about $50,000. Finally, International Assets Investment Management LLC increased its stake in BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Canaccord Genuity Group upped their price target on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research note on Friday, September 27th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BlackBerry has a consensus rating of “Hold” and an average target price of $3.23.

BlackBerry Stock Performance

BB stock opened at $2.69 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.59 billion, a P/E ratio of -10.76 and a beta of 1.43. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $4.44. The stock’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $2.44.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. As a group, equities research analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

Insider Activity at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.