Bank of Nova Scotia Trust Co. Decreases Position in BlackBerry Limited (NYSE:BB)

Bank of Nova Scotia Trust Co. cut its position in BlackBerry Limited (NYSE:BB) by 46.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,000 shares of the company’s stock after selling 14,000 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in BlackBerry were worth $44,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BB. CANADA LIFE ASSURANCE Co raised its holdings in shares of BlackBerry by 132.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock valued at $16,631,000 after purchasing an additional 3,458,275 shares during the last quarter. FIFTHDELTA Ltd raised its holdings in shares of BlackBerry by 2.3% during the first quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock valued at $86,940,000 after purchasing an additional 710,015 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of BlackBerry by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after purchasing an additional 149,444 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of BlackBerry by 1,938.9% during the first quarter. Headlands Technologies LLC now owns 334,152 shares of the company’s stock valued at $922,000 after purchasing an additional 317,763 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of BlackBerry during the first quarter valued at approximately $645,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Price Performance

Shares of BB traded up $0.07 during mid-day trading on Friday, reaching $2.48. The stock had a trading volume of 3,066,294 shares, compared to its average volume of 5,945,851. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -8.55 and a beta of 1.40. BlackBerry Limited has a 12 month low of $2.20 and a 12 month high of $5.75. The business has a fifty day moving average of $2.56 and a 200 day moving average of $2.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $132.05 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The company’s revenue was down 61.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Equities analysts predict that BlackBerry Limited will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other BlackBerry news, insider Mattias Eriksson sold 52,549 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.45, for a total value of $128,745.05. Following the completion of the transaction, the insider now directly owns 214,440 shares in the company, valued at $525,378. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BB. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Cibc World Mkts raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Robert W. Baird reduced their target price on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BlackBerry currently has a consensus rating of “Hold” and an average target price of $3.20.

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.