Schonfeld Strategic Advisors LLC Takes $1.06 Million Position in BlackBerry Limited (NYSE:BB)

Schonfeld Strategic Advisors LLC bought a new position in BlackBerry Limited (NYSE:BB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 279,404 shares of the company's stock, valued at approximately $1,056,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of BlackBerry by 19.9% in the fourth quarter. Legal & General Group Plc now owns 33,185,748 shares of the company's stock valued at $125,987,000 after acquiring an additional 5,518,216 shares during the period. Vanguard Group Inc. increased its holdings in BlackBerry by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company's stock valued at $86,844,000 after purchasing an additional 364,569 shares during the period. Hood River Capital Management LLC bought a new position in BlackBerry during the 4th quarter valued at approximately $53,267,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BlackBerry by 41.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock worth $51,856,000 after buying an additional 4,039,483 shares during the period. Finally, First Trust Advisors LP grew its position in shares of BlackBerry by 13.9% in the 4th quarter. First Trust Advisors LP now owns 12,755,972 shares of the company's stock worth $48,218,000 after buying an additional 1,558,904 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

BlackBerry Price Performance

BB stock opened at $3.68 on Thursday. 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 firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -16.70 and a beta of 1.42. The firm has a 50 day moving average price of $3.72 and a 200-day moving average price of $3.64. BlackBerry Limited has a 52-week low of $2.01 and a 52-week high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company's revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. Equities research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 37,216 shares of company stock worth $112,025. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BB. CIBC dropped their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Canaccord Genuity Group dropped 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. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a report on Thursday, April 3rd. Six research 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $4.12.

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.

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