Mirae Asset Global Investments Co. Ltd. Trims Stake in BlackBerry Limited (NYSE:BB)

Mirae Asset Global Investments Co. Ltd. lessened its stake in BlackBerry Limited (NYSE:BB - Free Report) by 45.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,269 shares of the company's stock after selling 129,693 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in BlackBerry were worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its position in BlackBerry by 1,457.0% during the first quarter. Oppenheimer & Co. Inc. now owns 239,543 shares of the company's stock valued at $903,000 after acquiring an additional 224,158 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of BlackBerry by 10.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock valued at $145,000 after purchasing an additional 3,755 shares during the period. Tobam purchased a new position in BlackBerry during the first quarter valued at $86,000. SG Americas Securities LLC grew its position in shares of BlackBerry by 7.6% in the 1st quarter. SG Americas Securities LLC now owns 108,672 shares of the company's stock worth $410,000 after buying an additional 7,684 shares during the period. Finally, Milestone Asset Management LLC increased its stake in shares of BlackBerry by 55.1% in the 1st quarter. Milestone Asset Management LLC now owns 228,658 shares of the company's stock worth $862,000 after acquiring an additional 81,210 shares in the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BlackBerry news, insider Philip S. Kurtz sold 16,217 shares of BlackBerry stock in a transaction on 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 of the company's stock, valued at $301,890.75. This trade represents a 22.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Joseph Giamatteo sold 26,998 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total value of $116,631.36. Following the sale, the chief executive officer directly owned 530,135 shares in the company, valued at $2,290,183.20. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,417 shares of company stock valued at $267,524 in the last three months. Insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BB shares. Canaccord Genuity Group upped their price target on BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of BlackBerry from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Royal Bank Of Canada boosted their target price on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research note on Friday, June 20th. Finally, Robert W. Baird upped their price target on shares of BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.60.

BlackBerry Price Performance

Shares of NYSE BB traded down $0.03 during midday trading on Monday, reaching $4.32. The stock had a trading volume of 12,498,209 shares, compared to its average volume of 14,497,911. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -72.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50-day moving average of $4.05 and a 200-day moving average of $4.13. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The business had revenue of $121.26 million during the quarter, compared to analyst estimates of $112.18 million. During the same period last year, the firm posted ($0.03) EPS. The company's revenue was down 15.5% on a year-over-year basis. As a group, research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

About BlackBerry

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.