Public Sector Pension Investment Board lessened its position in shares of BlackBerry Ltd (NYSE:BB) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 577,450 shares of the company’s stock after selling 31,100 shares during the period. Public Sector Pension Investment Board’s holdings in BlackBerry were worth $3,718,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of BlackBerry by 25.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,739 shares of the company’s stock worth $88,000 after buying an additional 2,823 shares during the last quarter. Quantbot Technologies LP lifted its position in BlackBerry by 6.1% during the 4th quarter. Quantbot Technologies LP now owns 50,679 shares of the company’s stock valued at $325,000 after acquiring an additional 2,924 shares during the period. Pictet Asset Management Ltd. lifted its position in BlackBerry by 1.7% during the 4th quarter. Pictet Asset Management Ltd. now owns 219,037 shares of the company’s stock valued at $1,410,000 after acquiring an additional 3,700 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new position in BlackBerry during the 4th quarter valued at about $48,000. Finally, Pacifica Partners Inc. purchased a new position in BlackBerry during the 4th quarter valued at about $86,000. Hedge funds and other institutional investors own 52.13% of the company’s stock.
Several research analysts have issued reports on the stock. CIBC reaffirmed a “hold” rating and issued a $7.00 target price on shares of BlackBerry in a report on Monday, December 23rd. Canaccord Genuity reissued a “hold” rating and issued a $7.00 target price on shares of BlackBerry in a report on Friday, December 20th. Morgan Stanley reaffirmed a “hold” rating and set a $7.00 price target on shares of BlackBerry in a research note on Monday, December 23rd. Finally, Royal Bank of Canada cut their price target on shares of BlackBerry from $7.50 to $5.00 and set a “sector perform” rating on the stock in a report on Thursday, March 19th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. BlackBerry has an average rating of “Hold” and a consensus price target of $7.25.
Shares of BlackBerry stock traded up $0.18 during midday trading on Thursday, hitting $3.94. The company had a trading volume of 373,992 shares, compared to its average volume of 9,489,466. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -21.83 and a beta of 1.80. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $5.71. BlackBerry Ltd has a 12-month low of $2.70 and a 12-month high of $10.29.
BlackBerry Company Profile
BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.
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