BlackBerry Limited (NYSE:BB) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of BlackBerry Limited (NYSE:BB) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 9,630,232 shares of the company’s stock after selling 188,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in BlackBerry were worth $25,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC purchased a new stake in BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in shares of BlackBerry during the second quarter worth about $43,000. Viewpoint Capital Management LLC acquired a new position in shares of BlackBerry in the second quarter worth about $50,000. Finally, International Assets Investment Management LLC boosted its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canaccord Genuity Group lifted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. StockNews.com lowered shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday. CIBC increased their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.23.

BlackBerry Price Performance

Shares of NYSE:BB opened at $2.32 on Thursday. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $4.44. The company’s fifty day moving average is $2.42 and its two-hundred day moving average is $2.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. Equities research analysts forecast that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

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.