On March 7, 2023 at 10:25:42 ET an unusually large $35.96K block of Call contracts in BlackBerry (BB) was sold, with a strike price of $3.50 / share, expiring in 38 days (on April 14, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.57 sigmas above the mean, placing it in the 96.63 percentile of all recent large trades made in BB options.
This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.
Analyst Price Forecast Suggests 6.85% Downside
As of March 6, 2023, the average one-year price target for BlackBerry is $3.72. The forecasts range from a low of $2.83 to a high of $5.49. The average price target represents a decrease of 6.85% from its latest reported closing price of $3.99.
The projected annual non-GAAP EPS is -$0.20.
What is the Fund Sentiment?
There are 326 funds or institutions reporting positions in BlackBerry. This is a decrease of 31 owner(s) or 8.68% in the last quarter. Average portfolio weight of all funds dedicated to BB is 0.13%, an increase of 22.06%. Total shares owned by institutions increased in the last three months by 7.55% to 297,344K shares. The put/call ratio of BB is 0.41, indicating a bullish outlook.
What are large shareholders doing?
FIFTHDELTA holds 57,924K shares representing 9.97% ownership of the company. In it’s prior filing, the firm reported owning 31,721K shares, representing an increase of 45.24%. The firm increased its portfolio allocation in BB by 29.46% over the last quarter.
Fairfax Financial Holdings holds 46,725K shares representing 8.04% ownership of the company. No change in the last quarter.
Primecap Management holds 35,976K shares representing 6.19% ownership of the company. In it’s prior filing, the firm reported owning 37,861K shares, representing a decrease of 5.24%. The firm decreased its portfolio allocation in BB by 37.64% over the last quarter.
Legal & General Group holds 21,101K shares representing 3.63% ownership of the company. In it’s prior filing, the firm reported owning 19,245K shares, representing an increase of 8.80%. The firm decreased its portfolio allocation in BB by 26.56% over the last quarter.
Norges Bank holds 11,791K shares representing 2.03% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
BlackBerry Background Information
(This description is provided by the company.)
BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including more than 175M cars on the road today. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security management, encryption, and embedded systems. BlackBerry’s vision is clear – to secure a connected future you can trust.
This article originally appeared on Fintel
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