Mirae Asset Global Investments Co. Ltd. Sells 129,693 Shares of BlackBerry Limited (NYSE:BB)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 45.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

A number of other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of 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 purchasing an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after buying an additional 3,811 shares in the last quarter. Mindset Wealth Management LLC bought a new position in shares of BlackBerry in the fourth quarter valued at $38,000. Quadrant Capital Group LLC lifted its stake 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 buying an additional 5,008 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of BlackBerry in the fourth quarter valued at about $41,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Philip S. Kurtz sold 16,217 shares of the company's stock in a transaction dated 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 $301,890.75. This represents a 22.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 530,135 shares of the company's stock, valued at approximately $2,290,183.20. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,417 shares of company stock worth $267,524. Company insiders own 0.37% of the company's stock.

BlackBerry Price Performance

Shares of BB stock traded down $0.05 during trading hours on Monday, reaching $4.30. The stock had a trading volume of 4,049,172 shares, compared to its average volume of 14,465,679. The stock's fifty day simple moving average is $4.03 and its 200 day simple moving average is $4.13. The company has a current ratio of 2.10, a quick ratio of 2.10 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 firm has a market capitalization of $2.56 billion, a PE ratio of -72.08 and a beta of 1.47.

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

Analyst Ratings Changes

Several analysts have recently commented on BB shares. Wall Street Zen downgraded shares of BlackBerry from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Robert W. Baird lifted their target price on shares of BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. CIBC reiterated an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Royal Bank Of Canada lifted their target price on shares of BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a research note on Friday, June 20th. Finally, Canaccord Genuity Group lifted their target price on shares of BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $4.60.

BlackBerry Company 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.