On September 21, 2023, it was reported that the Maryland State Retirement & Pension System has purchased a new stake in BlackBerry Limited (NYSE:BB) during the second quarter. According to the disclosure submitted to the Securities and Exchange Commission, the fund acquired 421,276 shares of BlackBerry’s stock, valued at around $2,335,000. At the close of the reporting period, Maryland State Retirement & Pension System held approximately 0.07% ownership of BlackBerry.
In other news related to BlackBerry, an insider named Mattias Eriksson recently sold 11,126 shares of the company’s stock in a transaction that took place on Wednesday, June 28th. The average selling price for these shares was $5.56, resulting in a total value of $61,860.56. Following this sale, Eriksson now possesses 64,721 shares in BlackBerry valued at $359,848.76. Details about this transaction can be found in a document filed with the Securities & Exchange Commission via this link. It is worth noting that company insiders currently own 1.94% of BlackBerry’s stock.
These recent developments highlight some notable activities involving BlackBerry Limited and its shareholders. As an investment made by the Maryland State Retirement & Pension System and a sale made by one of its insiders occur within such a timeframe; they may serve as points of interest for individuals keeping an eye on BlackBerry’s performance and investor behavior.
However, it is important to approach such information with caution and conduct further research before drawing any conclusions or making investment decisions based solely on these reports. Market conditions and various factors can significantly affect stock prices and should be taken into consideration alongside any available corporate financial data.
By staying informed about such transactions and developments within companies like BlackBerry Limited, investors can gain insights into potential market trends and make more informed decisions regarding their investments or portfolios. Remaining vigilant and conducting thorough analysis enable investors to navigate the dynamic world of stock markets with greater confidence.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
11:00 AM (UTC)
Date:05 December, 2023
|Analyst / firm||Rating|
Michael Walkley Walkley
Institutional Investors’ Confidence in BlackBerry Grows Despite Mixed Analyst Perceptions
On September 21, 2023, it was reported that various hedge funds and institutional investors have been making changes to their stakes in BlackBerry. One notable instance was Norges Bank, which acquired a new stake in the company during the fourth quarter valued at approximately $38,430,000. In addition, Legal & General Group Plc increased its holdings in BlackBerry by 9.6% during the same period. The company now owns 21,101,291 shares of BlackBerry worth $68,679,000 after purchasing an additional 1,855,903 shares.
Not to be outdone, Bank of America Corp DE significantly boosted its holdings in BlackBerry by 138.0% during the first quarter of this year. With this increase, Bank of America Corp DE now possesses 2,545,157 shares of BlackBerry stock valued at $18,987,000 after acquiring an additional 1,475,870 shares. Renaissance Technologies LLC also saw increases in its holdings with a raise of 171.9% during the first quarter. As a result of their investments over time,Renaissance Technologies LLC currently owns 2,266,443 shares valued at $10,3350 and more so.
Similarly embracing this trend,Great West Life Assurance Co.Can increased its holdings in BlackBerry by an impressive 98.7% during the first quarter as well.This significant increase brought Great West Life Assurance Co.Can’s total ownership to a vast amount,A eye-catching amount that totals up to approximately is , which is not just commendatory given how great this amount is but also brings significant value for that firm .
Indeed,the actions of these institutional investors indicate a collective belief in the growth potential and stability of BlackBerry.Despite facing challenges and undergoing changes,the appeal of the company has not wavered for these seasoned investors.A significant portion/vendor(The precise number being around)42.66 percent of BlackBerry’s stock is owned by institutional investors.These figures are surely compelling the potential investors inspiring confidence in them that investing in BlackBerry is a lucrative decision.
In terms of research reports, numerous findings were discussed regarding BlackBerry. TD Securities notably increased its price objective from $4.00 to $5.000, giving the stock a “hold” rating.Furthermore,Stocknews.com downgraded BlackBerry’s rating from “hold” to “sell”. Meanwhile, Robert W.Baird lowered their target price from $6.00 to $5.50 in their report released on September 7th.Accordingly,the was an impeccant observation made by Canaccord Genuity Group who revised their target price from$5.37 to $5.00 while maintaining a hold rating for the company.Interestingly, Royal Bank of Canada resurfaced and not only reaffirmed its previously given “sector perform” rating but also specified that they claimed a target price of $4.50.Therefore,it is safe company in any similar standings (like BB) can sustain difficulties,regain stability and grow.
As for the company’s stock value, BlackBerry opened at $5.11 on Thursday following these various reports and developments associated with the company.Within the past twelve months alone,the share values have experienced fluctuations ranging between a low point of ,$3.17,and a high point of,$5.75.It is crucial to note that these price fluctuations do not directly suggest significant improvement or decline,but rather,simply serve as benchmarks within this preceding period.Since those figures fell under expectations regarding growth howsoever they remained stable nevertheless during market scrutiny.This information serves as somewhat helpful guidance considering other variables when making predictions,futhermore intricate calculations lead us towards better predictions
Analyzing the overall performance of BlackBerry (NYSE:BB), Intrapersonal thoughts squeezed were swirling around as KEY questions arose within minds: “What are all these numbers trying to tell us?”Nearing the end of June 2023, BlackBerry released its earnings results.Among those numbers that demand our attentiona deserves mention-The company posted earnings per share (EPS) of $0.04 for the quarter,revealing a remarkable difference when compared to the consensus estimate of ($0.06).Furthermore, Revenue-wise,BlackBerry brought in a total revenue of $373.00 million ,clearly exceeding the consensus estimate which predicted a lesser value,$159.36 million.It is important to note that returns on equity and the net margin both experienced adverse effects,as both values were recorded as negative -6.39% and -65.50%,respectively
When all these data are thoroughly examined,the uniqueness in all these discussed values highlight an intriguing story,it’s justified that investors have mixed perceptions regarding BlackBerry .The actions of various hedge funds and institutional investors indicate a level of confidence in the company’s future growth prospects.The fact that Norges Bank purchased such a significant stake speaks volumes about their conviction in BlackBerry’s potential.Positive research reports from TD Securities further affirm this sentiment.Nevertheless,having six rating dynamics reverting to assess risk aversion along with overall average “Hold” rating portray upon us from Bloomberg still reflects some skepticism surrounding Black Berry and some analysts even recommending a