BlackBerry Limited (NYSE:BB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its stake in shares of BlackBerry Limited (NYSE:BB) by 41.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,928 shares of the company’s stock after selling 7,110 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BlackBerry were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new position in BlackBerry during the first quarter worth approximately $230,235,000. Swiss National Bank increased its position in shares of BlackBerry by 6.6% in the second quarter. Swiss National Bank now owns 2,288,550 shares of the company’s stock worth $28,023,000 after acquiring an additional 141,800 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of BlackBerry by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 2,052,483 shares of the company’s stock worth $17,302,000 after acquiring an additional 113,883 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of BlackBerry by 26.8% in the first quarter. Great West Life Assurance Co. Can now owns 1,847,253 shares of the company’s stock worth $15,498,000 after acquiring an additional 390,795 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in shares of BlackBerry by 3.1% in the first quarter. TD Asset Management Inc. now owns 1,815,402 shares of the company’s stock worth $15,224,000 after acquiring an additional 54,161 shares in the last quarter. 36.16% of the stock is owned by hedge funds and other institutional investors.

NYSE BB opened at $9.43 on Tuesday. BlackBerry Limited has a 12 month low of $4.37 and a 12 month high of $28.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.37 and a quick ratio of 2.37. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -10.03 and a beta of 1.23. The company’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $10.49.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, June 23rd. The company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The firm had revenue of $174.00 million for the quarter, compared to the consensus estimate of $171.04 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue was down 15.5% compared to the same quarter last year.

In other BlackBerry news, COO Thomas Eacobacci sold 109,994 shares of the stock in a transaction on Friday, July 23rd. The shares were sold at an average price of $10.06, for a total transaction of $1,106,539.64. Following the transaction, the chief operating officer now directly owns 281,294 shares in the company, valued at approximately $2,829,817.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Several brokerages have recently weighed in on BB. CIBC downgraded shares of BlackBerry from a “neutral” rating to an “underperform” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Friday, June 25th. Zacks Investment Research upgraded shares of BlackBerry from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research note on Wednesday, June 2nd. Royal Bank of Canada restated a “sell” rating and issued a $9.50 target price on shares of BlackBerry in a research note on Friday. Raymond James set a $9.50 target price on shares of BlackBerry and gave the company a “market perform” rating in a research note on Friday, June 25th. Finally, TD Securities downgraded shares of BlackBerry from a “hold” rating to a “reduce” rating and set a $8.50 target price for the company. in a research note on Friday, June 25th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackBerry presently has a consensus rating of “Sell” and an average target price of $10.58.

BlackBerry Profile

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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