Bank of America Corp DE Has $17.27 Million Stock Position in BlackBerry Limited (NYSE:BB)

Bank of America Corp DE increased its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 50.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,569,019 shares of the company's stock after buying an additional 1,530,263 shares during the quarter. Bank of America Corp DE owned 0.77% of BlackBerry worth $17,271,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after purchasing an additional 3,811 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry during the fourth quarter valued at approximately $38,000. Mindset Wealth Management LLC acquired a new stake in BlackBerry during the fourth quarter valued at approximately $38,000. Quadrant Capital Group LLC boosted its holdings in BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after purchasing an additional 5,008 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in BlackBerry during the fourth quarter valued at approximately $40,000. 54.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BB shares. Wall Street Zen raised BlackBerry from a "sell" rating to a "hold" rating in a report on Friday, April 11th. CIBC cut their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group cut their target price on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.12.

Insider Buying and Selling

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company's stock in a transaction on 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 owns 42,398 shares in the company, valued at approximately $126,770.02. The trade was a 41.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 37,216 shares of company stock worth $112,025 in the last quarter. Insiders own 0.34% of the company's stock.

BlackBerry Trading Down 2.7%

BB stock traded down $0.10 during trading on Friday, hitting $3.77. The company had a trading volume of 13,652,484 shares, compared to its average volume of 13,904,049. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $3.58 and a 200-day moving average price of $3.76. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -17.12 and a beta of 1.42.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data 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 net margin of 21.16% and a negative return on equity of 2.02%. The firm had revenue of $141.70 million during the quarter, compared to analysts' expectations of $137.56 million. During the same quarter in the previous year, the company posted $0.03 EPS. BlackBerry's revenue was down 7.3% on a year-over-year basis. As a group, analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current year.

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.