Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in BlackBerry Limited (NYSE:BB) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 103,003 shares of the company’s stock, valued at approximately $1,183,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kahn Brothers Group Inc. DE acquired a new position in shares of BlackBerry during the 1st quarter worth $51,330,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of BlackBerry during the 1st quarter worth $31,344,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of BlackBerry during the 1st quarter worth $16,814,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of BlackBerry during the 1st quarter worth $4,819,000. Finally, CIBC Asset Management Inc acquired a new position in shares of BlackBerry during the 1st quarter worth $3,359,000. 58.76% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on BB. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, April 3rd. Canaccord Genuity restated a “hold” rating and set a $11.00 price objective on shares of BlackBerry in a research report on Thursday, March 29th. Vetr upgraded BlackBerry from a “strong sell” rating to a “hold” rating and set a $10.20 price objective on the stock in a research report on Tuesday, April 3rd. Raymond James restated a “market perform” rating and set a $11.00 price objective on shares of BlackBerry in a research report on Thursday, March 29th. Finally, MKM Partners boosted their price objective on BlackBerry and gave the stock a “neutral” rating in a research report on Thursday, March 29th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. BlackBerry has an average rating of “Hold” and a consensus target price of $10.80.
BlackBerry opened at $11.58 on Friday, according to Marketbeat Ratings. BlackBerry Limited has a 12 month low of $11.62 and a 12 month high of $11.75. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 231.60 and a beta of 1.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.48 and a current ratio of 5.49.
BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, March 28th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. BlackBerry had a return on equity of 3.70% and a net margin of 43.46%. The firm had revenue of $239.00 million for the quarter, compared to analyst estimates of $217.88 million. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. equities research analysts expect that BlackBerry Limited will post -0.05 EPS for the current year.
BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It 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 secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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