Allianz Asset Management GmbH Cuts Stock Holdings in BlackBerry Limited (NYSE:BB)

Allianz Asset Management GmbH lowered its stake in BlackBerry Limited (NYSE:BB) by 5.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,908,090 shares of the company’s stock after selling 1,628,545 shares during the quarter. Allianz Asset Management GmbH’s holdings in BlackBerry were worth $252,153,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in BlackBerry by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 15,428,400 shares of the company’s stock valued at $188,534,000 after buying an additional 214,816 shares during the period. Legal & General Group Plc boosted its holdings in BlackBerry by 82.7% in the second quarter. Legal & General Group Plc now owns 2,596,337 shares of the company’s stock valued at $31,767,000 after purchasing an additional 1,175,483 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in BlackBerry by 5.9% in the second quarter. Great West Life Assurance Co. Can now owns 1,956,906 shares of the company’s stock valued at $23,892,000 after purchasing an additional 109,653 shares in the last quarter. Morgan Stanley boosted its holdings in BlackBerry by 24.2% in the second quarter. Morgan Stanley now owns 1,740,808 shares of the company’s stock valued at $21,273,000 after purchasing an additional 338,780 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in BlackBerry by 6.9% in the third quarter. BlackRock Inc. now owns 1,667,278 shares of the company’s stock valued at $16,222,000 after purchasing an additional 107,596 shares in the last quarter. 36.38% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry stock opened at $9.04 on Friday. BlackBerry Limited has a 12 month low of $7.70 and a 12 month high of $28.77. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $9.57 and a two-hundred day moving average price of $10.21.

Several equities research analysts have recently commented on the company. Raymond James restated a “market perform” rating and set a $9.50 price target on shares of BlackBerry in a research note on Thursday, September 23rd. TD Securities dropped their price target on BlackBerry from $9.00 to $8.50 and set a “reduce” rating for the company in a research report on Wednesday, December 22nd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $7.50 price objective on shares of BlackBerry in a research note on Friday, December 17th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $10.25.

In related news, CFO Steve Rai sold 6,625 shares of BlackBerry stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $8.72, for a total transaction of $57,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John S. Chen sold 2,222,844 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $11.14, for a total value of $24,762,482.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,241,955 shares of company stock worth $24,929,879. 1.60% of the stock is owned by corporate insiders.

About BlackBerry

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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