Mirae Asset Global Investments Co. Ltd. Has $601,000 Position in BlackBerry Limited (NYSE:BB)

Mirae Asset Global Investments Co. Ltd. reduced its position in BlackBerry Limited (NYSE:BB - Free Report) by 45.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,269 shares of the company's stock after selling 129,693 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in BlackBerry were worth $601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC increased its holdings in shares of BlackBerry by 7.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,911,833 shares of the company's stock valued at $7,227,000 after buying an additional 131,833 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of BlackBerry by 41.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock valued at $51,856,000 after acquiring an additional 4,039,483 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of BlackBerry by 36.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,781,820 shares of the company's stock valued at $6,735,000 after acquiring an additional 480,205 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in BlackBerry by 2.5% in the fourth quarter. EdgePoint Investment Group Inc. now owns 12,224,473 shares of the company's stock worth $46,209,000 after purchasing an additional 301,678 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in BlackBerry in the fourth quarter worth $544,000. 54.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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 report on Wednesday, June 25th. Wall Street Zen cut shares of BlackBerry from a "buy" rating to a "hold" rating in a report on Monday, June 30th. CIBC restated an "outperform" rating on shares of BlackBerry in a report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Finally, Canaccord Genuity Group upped their price target on shares of BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a report on Tuesday, June 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.60.

BlackBerry Stock Performance

Shares of NYSE BB traded down $0.07 during mid-day trading on Wednesday, hitting $4.14. The company had a trading volume of 9,058,502 shares, compared to its average volume of 14,526,010. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $6.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $2.46 billion, a P/E ratio of -69.00 and a beta of 1.47. The business's 50-day simple moving average is $4.08 and its 200-day simple moving average is $4.13.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $121.26 million during the quarter, compared to analyst estimates of $112.18 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The company's quarterly revenue was down 15.5% compared to the same quarter last year. As a group, analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insider Activity at BlackBerry

In other news, insider Philip S. Kurtz sold 16,217 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the sale, the insider owned 57,503 shares of the company's stock, valued at approximately $301,890.75. This trade represents a 22.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Joseph Giamatteo sold 26,998 shares of the firm'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 transaction of $116,631.36. Following the sale, the chief executive officer directly owned 530,135 shares of the company's stock, valued at approximately $2,290,183.20. The trade was a 4.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,417 shares of company stock valued at $267,524. Company insiders own 0.37% of the company's stock.

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.