BlackBerry’s (BB) Sector Perform Rating Reiterated at Royal Bank of Canada

BlackBerry (NYSE:BB)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $4.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 5.12% from the company’s current price.

A number of other equities research analysts also recently commented on BB. Robert W. Baird lifted their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Canaccord Genuity Group increased their price target on shares of BlackBerry from $3.00 to $4.75 and gave the stock a “hold” rating in a research note on Tuesday, March 11th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a report on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and an average target price of $3.91.

BlackBerry Trading Up 0.9 %

NYSE BB traded up $0.04 during mid-day trading on Tuesday, reaching $3.81. 7,598,245 shares of the stock were exchanged, compared to its average volume of 13,311,393. The stock has a market capitalization of $2.27 billion, a PE ratio of -17.34 and a beta of 1.27. 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 has a 1-year low of $2.01 and a 1-year high of $6.24. The business’s fifty day simple moving average is $4.69 and its 200 day simple moving average is $3.50.

Insider Buying and Selling at BlackBerry

In other news, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors and hedge funds have recently modified their holdings of BB. Charles Schwab Investment Management Inc. grew its position in BlackBerry by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after purchasing an additional 11,899 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of BlackBerry by 10.4% during the third quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock worth $1,284,000 after acquiring an additional 46,101 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of BlackBerry by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after purchasing an additional 11,488 shares in the last quarter. Potrero Capital Research LLC bought a new position in BlackBerry during the third quarter valued at approximately $2,359,000. Finally, Quantinno Capital Management LP bought a new position in shares of BlackBerry during the 3rd quarter valued at $38,000. 54.48% of the stock is owned by institutional investors and hedge funds.

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.