BlackBerry Limited (NYSE:BB) is NewGen Asset Management Ltd's 7th Largest Position

NewGen Asset Management Ltd trimmed its stake in BlackBerry Limited (NYSE:BB - Free Report) by 55.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,700,000 shares of the company's stock after selling 2,078,360 shares during the quarter. BlackBerry comprises about 4.2% of NewGen Asset Management Ltd's holdings, making the stock its 7th biggest position. NewGen Asset Management Ltd owned 0.29% of BlackBerry worth $6,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after acquiring an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after acquiring an additional 3,811 shares in the last quarter. Mindset Wealth Management LLC purchased a new stake in shares of BlackBerry in the fourth quarter valued at about $38,000. Quadrant Capital Group LLC raised its holdings in shares of BlackBerry by 100.3% in 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 during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of BlackBerry during the fourth quarter valued at about $40,000. 54.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BB has been the subject of several analyst reports. CIBC decreased their price objective 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. Canaccord Genuity Group cut their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen lowered BlackBerry from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a research report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BlackBerry presently has an average rating of "Hold" and a consensus price target of $4.12.

BlackBerry Price Performance

NYSE:BB traded down $0.11 during mid-day trading on Friday, hitting $4.08. 18,004,505 shares of the stock traded hands, compared to its average volume of 14,088,031. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24. The company has a market cap of $2.43 billion, a PE ratio of -18.54 and a beta of 1.45. The business's 50-day moving average price is $3.67 and its 200 day moving average price is $3.94.

BlackBerry (NYSE:BB - Get Free Report) last announced its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry's revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. On average, analysts expect that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. The trade was a 41.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 37,216 shares of company stock worth $112,025 in the last quarter. 0.37% of the stock is owned by insiders.

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.