On April 28, 2023 at 12:43:50 ET an unusually large $6,020.00K block of Put contracts in Silvergate Capital Corp – (SI) was sold, with a strike price of $10.00 / share, expiring in 21 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.52 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in SI options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 466 funds or institutions reporting positions in Silvergate Capital Corp -. This is a decrease of 91 owner(s) or 16.34% in the last quarter. Average portfolio weight of all funds dedicated to SI is 0.31%, an increase of 4.37%. Total shares owned by institutions increased in the last three months by 19.72% to 34,663K shares. The put/call ratio of SI is 1.47, indicating a bearish outlook.

Analyst Price Forecast Suggests 206.77% Upside

As of March 30, 2023, the average one-year price target for Silvergate Capital Corp – is $4.08. The forecasts range from a low of $4.04 to a high of $4.20. The average price target represents an increase of 206.77% from its latest reported closing price of $1.33.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Silvergate Capital Corp – is $330MM. The projected annual non-GAAP EPS is $4.31.

What are Other Shareholders Doing?

REBYX – U.S. Small Cap Equity Fund Class Y holds 6K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 7K shares, representing a decrease of 22.40%. The firm decreased its portfolio allocation in SI by 76.63% over the last quarter.

Harvest Portfolios Group holds 25K shares representing 0.08% ownership of the company.

ARKF – ARK Fintech Innovation ETF holds 420K shares representing 1.33% ownership of the company. In it’s prior filing, the firm reported owning 448K shares, representing a decrease of 6.74%. The firm decreased its portfolio allocation in SI by 34.68% over the last quarter.

Legal & General Group holds 27K shares representing 0.09% ownership of the company. In it’s prior filing, the firm reported owning 28K shares, representing a decrease of 0.47%. The firm decreased its portfolio allocation in SI by 77.58% over the last quarter.

Mirae Asset Global Investments Co. holds 13K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 13K shares, representing an increase of 2.36%. The firm decreased its portfolio allocation in SI by 77.14% over the last quarter.

Silvergate Capital Background Information
(This description is provided by the company.)

Silvergate Capital Corporation is a registered bank holding company for Silvergate Bank, headquartered in La Jolla, California. Silvergate Bank is a commercial bank that opened in 1988, has been profitable for 22 consecutive years, and has focused its strategy on creating the banking platform for innovators, especially in the digital currency industry, and developing product and service solutions addressing the needs of entrepreneurs. The Company’s assets consist primarily of its investment in the Bank and the Company’s primary activities are conducted through the Bank. The Company is subject to supervision by the Board of Governors of the Federal Reserve System (the ‘Federal Reserve’). The Bank is subject to supervision by the California Department of Business Oversight, Division of Financial Institutions and, as a Federal Reserve member bank, the Federal Reserve. The Bank’s deposits are insured up to legal limits by the Federal Deposit Insurance Corporation.

See all Silvergate Capital Corp – regulatory filings.

This article originally appeared on Fintel

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