Hood River Capital Management LLC Acquires New Position in BlackBerry Limited (NYSE:BB)

Hood River Capital Management LLC acquired a new position in shares of BlackBerry Limited (NYSE:BB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,091,726 shares of the company's stock, valued at approximately $53,267,000. Hood River Capital Management LLC owned approximately 2.38% of BlackBerry as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of BlackBerry by 1.9% in the third quarter. State Street Corp now owns 1,309,606 shares of the company's stock valued at $3,431,000 after buying an additional 24,309 shares in the last quarter. Barclays PLC boosted its stake in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company's stock valued at $652,000 after purchasing an additional 93,651 shares during the period. Geode Capital Management LLC grew its holdings in shares of BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company's stock valued at $706,000 after purchasing an additional 7,652 shares in the last quarter. Ballentine Partners LLC acquired a new stake in BlackBerry during the 4th quarter worth approximately $65,000. Finally, Foundations Investment Advisors LLC purchased a new position in BlackBerry in the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 54.48% of the company's stock.

BlackBerry Trading Down 1.0 %

BlackBerry stock traded down $0.04 during midday trading on Monday, reaching $3.35. The stock had a trading volume of 6,789,223 shares, compared to its average volume of 13,883,990. The stock's 50-day simple moving average is $3.99 and its 200 day simple moving average is $3.60. The stock has a market capitalization of $1.99 billion, a PE ratio of -15.20 and a beta of 1.30. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The company 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%. The business's quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. Analysts expect that BlackBerry Limited will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

BB has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research note on Thursday, April 3rd. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, CIBC reduced their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a report on Thursday, April 3rd. Six equities research 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 company's stock. According to data from MarketBeat, the stock presently has an average 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 firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now owns 42,398 shares of the company's stock, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 37,216 shares of company stock valued at $112,025. Insiders own 0.34% of the company's stock.

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.