NewGen Asset Management Ltd Makes New Investment in BlackBerry Limited (NYSE:BB)

NewGen Asset Management Ltd bought a new position in BlackBerry Limited (NYSE:BB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,778,360 shares of the company's stock, valued at approximately $14,282,000. BlackBerry makes up about 13.0% of NewGen Asset Management Ltd's holdings, making the stock its biggest holding. NewGen Asset Management Ltd owned approximately 0.64% of BlackBerry at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BB. State Street Corp lifted its stake in 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 acquiring an additional 24,309 shares during the last quarter. Barclays PLC lifted its position in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company's stock worth $652,000 after buying an additional 93,651 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company's stock worth $706,000 after acquiring an additional 7,652 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of BlackBerry during the 4th quarter valued at about $65,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of BlackBerry in the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 54.48% of the company's stock.

BlackBerry Stock Performance

Shares of NYSE:BB traded up $0.14 during trading on Friday, hitting $3.51. 11,950,144 shares of the stock were exchanged, compared to its average volume of 13,942,143. The company's fifty day simple moving average is $3.82 and its 200-day simple moving average is $3.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -15.93 and a beta of 1.30. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24.

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

Analysts Set New Price Targets

BB has been the topic of a number of recent analyst reports. CIBC dropped their price target on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Canaccord Genuity Group cut their target price on shares of 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 target on BlackBerry in a research report on Thursday, April 3rd. Finally, StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.12.

Insider Activity

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 37,216 shares of company stock worth $112,025. Company insiders own 0.34% of the company's stock.

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.