Raymond James & Associates Acquires 13,783 Shares of BlackBerry Ltd (NYSE:BB)

Raymond James & Associates raised its holdings in BlackBerry Ltd (NYSE:BB) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 194,565 shares of the company’s stock after acquiring an additional 13,783 shares during the quarter. Raymond James & Associates’ holdings in BlackBerry were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in BlackBerry by 6.3% in the first quarter. CIBC Asset Management Inc now owns 409,448 shares of the company’s stock valued at $4,127,000 after acquiring an additional 24,215 shares during the last quarter. Toronto Dominion Bank boosted its stake in BlackBerry by 27.3% in the first quarter. Toronto Dominion Bank now owns 4,131,216 shares of the company’s stock valued at $41,654,000 after acquiring an additional 884,858 shares during the last quarter. Cetera Advisors LLC boosted its stake in BlackBerry by 7.9% in the first quarter. Cetera Advisors LLC now owns 27,051 shares of the company’s stock valued at $273,000 after acquiring an additional 1,980 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in BlackBerry in the first quarter valued at approximately $331,000. Finally, Stevens Capital Management LP boosted its stake in BlackBerry by 1.7% in the first quarter. Stevens Capital Management LP now owns 178,133 shares of the company’s stock valued at $1,797,000 after acquiring an additional 3,032 shares during the last quarter. 52.18% of the stock is currently owned by hedge funds and other institutional investors.

BB has been the topic of a number of recent research reports. TheStreet raised shares of BlackBerry from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Morgan Stanley reissued an “equal weight” rating and set a $10.00 price target on shares of BlackBerry in a research report on Friday, March 22nd. CIBC reissued a “buy” rating and set a $13.00 price target on shares of BlackBerry in a research report on Friday, March 29th. Raymond James set a $11.00 price target on shares of BlackBerry and gave the stock a “market perform” rating in a research report on Monday, April 1st. Finally, TD Securities lifted their price target on shares of BlackBerry from $14.00 to $14.50 and gave the company a “buy” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.61.

Shares of BB stock opened at $8.73 on Thursday. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 67.15 and a beta of 2.01. BlackBerry Ltd has a 1 year low of $6.57 and a 1 year high of $12.45. 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 released its quarterly earnings data on Friday, March 29th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $242.81 million. BlackBerry had a net margin of 10.29% and a return on equity of 2.33%. BlackBerry’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Research analysts expect that BlackBerry Ltd will post -0.01 EPS for the current year.

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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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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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