IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 38,647 Shares of BlackBerry Limited (NYSE:BB)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in BlackBerry Limited (NYSE:BBFree Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,256,389 shares of the company’s stock after selling 38,647 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in BlackBerry were worth $4,737,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its position in BlackBerry by 10.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company’s stock worth $145,000 after acquiring an additional 3,755 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after buying an additional 3,811 shares in the last quarter. Invesco Ltd. increased its stake in shares of BlackBerry by 3.8% in the fourth quarter. Invesco Ltd. now owns 115,116 shares of the company’s stock valued at $435,000 after buying an additional 4,226 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of BlackBerry by 6.6% in the fourth quarter. Advisory Services Network LLC now owns 70,829 shares of the company’s stock valued at $268,000 after buying an additional 4,375 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of BlackBerry by 216.2% in the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock valued at $27,000 after buying an additional 4,893 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. CIBC restated an “outperform” rating on shares of BlackBerry in a research note on Tuesday, June 24th. Royal Bank Of Canada raised their target price on BlackBerry from $3.75 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, June 20th. Robert W. Baird raised their target price on BlackBerry from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded BlackBerry from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Canaccord Genuity Group raised their target price on BlackBerry from $4.25 to $4.60 and gave the company a “hold” rating in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.60.

Get Our Latest Analysis on BlackBerry

BlackBerry Stock Performance

BlackBerry stock opened at $3.60 on Monday. The company’s 50-day moving average is $4.13 and its two-hundred day moving average is $4.13. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24. The company has a market cap of $2.14 billion, a PE ratio of -60.00 and a beta of 1.49.

BlackBerry (NYSE:BBGet Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $121.26 million for the quarter, compared to the consensus estimate of $112.18 million. BlackBerry had a positive return on equity of 2.29% and a negative net margin of 6.44%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. Equities analysts anticipate that BlackBerry Limited will post -0.03 earnings per share for the current year.

Insider Activity

In other BlackBerry news, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total value of $116,631.36. Following the transaction, the chief executive officer owned 530,135 shares of the company’s stock, valued at approximately $2,290,183.20. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip S. Kurtz sold 16,217 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total value of $85,139.25. Following the completion of the transaction, the insider directly owned 57,503 shares in the company, valued at $301,890.75. The trade was a 22.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,417 shares of company stock worth $267,524 in the last three months. Insiders own 0.37% of the company’s stock.

About BlackBerry

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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