CANADA LIFE ASSURANCE Co Acquires 96,972 Shares of BlackBerry Limited (NYSE:BB)

CANADA LIFE ASSURANCE Co raised its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 66.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,797 shares of the company's stock after buying an additional 96,972 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in BlackBerry were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BB. Legal & General Group Plc boosted its stake in BlackBerry by 19.9% in the fourth quarter. Legal & General Group Plc now owns 33,185,748 shares of the company's stock worth $125,987,000 after buying an additional 5,518,216 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BlackBerry in the 4th quarter valued at $19,485,000. Connor Clark & Lunn Investment Management Ltd. raised its position in BlackBerry by 41.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock worth $51,856,000 after purchasing an additional 4,039,483 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in BlackBerry during the fourth quarter valued at about $10,514,000. Finally, JPMorgan Chase & Co. grew its stake in shares of BlackBerry by 36.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,781,820 shares of the company's stock valued at $6,735,000 after buying an additional 480,205 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

Insider Activity at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 37,216 shares of company stock valued at $112,025 in the last three months. Company insiders own 0.34% of the company's stock.

BlackBerry Stock Up 3.3 %

Shares of BB stock traded up $0.11 during midday trading on Friday, reaching $3.48. 16,594,066 shares of the stock were exchanged, compared to its average volume of 13,992,284. The firm has a market cap of $2.07 billion, a PE ratio of -15.82 and a beta of 1.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company's 50 day moving average is $3.79 and its two-hundred day moving average is $3.62. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $141.70 million for the quarter, compared to analysts' expectations of $137.56 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm's revenue for the quarter was down 7.3% on a year-over-year basis. On average, equities research analysts predict that BlackBerry Limited will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BB shares. Royal Bank of Canada set a $3.75 price target on BlackBerry in a research report on Thursday, April 3rd. CIBC decreased their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research note on Thursday, April 3rd. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Canaccord Genuity Group cut their price target on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.12.

BlackBerry 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.