BlackBerry Limited (NYSE:BB) Holdings Reduced by FIFTHDELTA Ltd

FIFTHDELTA Ltd decreased its stake in shares of BlackBerry Limited (NYSE:BB) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 30,789,843 shares of the company’s stock after selling 4,813,223 shares during the quarter. BlackBerry comprises about 16.7% of FIFTHDELTA Ltd’s holdings, making the stock its biggest position. FIFTHDELTA Ltd owned 0.05% of BlackBerry worth $108,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of BlackBerry by 2.9% in the third quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock worth $90,548,000 after purchasing an additional 534,772 shares in the last quarter. Norges Bank purchased a new position in BlackBerry during the fourth quarter valued at $48,775,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in BlackBerry by 17.3% in 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. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of BlackBerry by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock valued at $41,164,000 after purchasing an additional 3,245,600 shares in the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new stake in BlackBerry during the third quarter valued at $21,316,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Price Performance

Shares of BlackBerry stock traded up $0.01 on Friday, hitting $2.80. The company’s stock had a trading volume of 3,978,807 shares, compared to its average volume of 9,860,511. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -11.60 and a beta of 1.40. BlackBerry Limited has a 1 year low of $2.46 and a 1 year high of $5.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a fifty day moving average price of $2.89 and a 200-day moving average price of $3.14.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. As a group, sell-side analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.