BlackBerry Ltd (BB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in BlackBerry Ltd (NYSE:BB) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 409,448 shares of the company’s stock after buying an additional 24,215 shares during the quarter. CIBC Asset Management Inc’s holdings in BlackBerry were worth $4,127,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BB. Vanguard Group Inc. acquired a new stake in BlackBerry in the third quarter valued at about $142,508,000. Norges Bank acquired a new stake in BlackBerry in the fourth quarter valued at about $37,331,000. Mackenzie Financial Corp boosted its stake in BlackBerry by 51.9% in the fourth quarter. Mackenzie Financial Corp now owns 9,646,380 shares of the company’s stock valued at $68,586,000 after buying an additional 3,295,576 shares in the last quarter. Morgan Stanley acquired a new stake in BlackBerry in the third quarter valued at about $23,038,000. Finally, BlackRock Inc. acquired a new stake in shares of BlackBerry during the third quarter valued at about $14,550,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Zacks Investment Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. TheStreet raised BlackBerry from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Morgan Stanley assumed coverage on BlackBerry in a research note on Friday, March 22nd. They set a “weight” rating on the stock. Raymond James set a $11.00 price target on BlackBerry and gave the company a “market perform” rating in a research note on Monday, April 1st. Finally, CIBC reissued a “buy” rating and set a $13.00 price target on shares of BlackBerry in a research note on Friday, March 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.61.

Shares of BB stock opened at $8.63 on Friday. BlackBerry Ltd has a 12 month low of $6.57 and a 12 month high of $12.55. The stock has a market cap of $4.70 billion, a PE ratio of 77.91 and a beta of 1.99. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Friday, March 29th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. The firm had revenue of $257.00 million for the quarter, compared to analyst estimates of $242.81 million. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts predict that BlackBerry Ltd will post -0.01 EPS for the current year.

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About BlackBerry

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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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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