On March 10, 2023 at 09:36:49 ET an unusually large $387.00K block of Put contracts in Block (SQ) was bought, with a strike price of $70.00 / share, expiring in 42 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.46 sigmas above the mean, placing it in the 92.72 percentile of all recent large trades made in SQ options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 35.19% Upside
As of March 10, 2023, the average one-year price target for Block is $99.77. The forecasts range from a low of $70.70 to a high of $171.15. The average price target represents an increase of 35.19% from its latest reported closing price of $73.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Block is $20,826MM, an increase of 18.79%. The projected annual non-GAAP EPS is $1.72.
What is the Fund Sentiment?
There are 1613 funds or institutions reporting positions in Block. This is a decrease of 11 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to SQ is 0.53%, an increase of 20.08%. Total shares owned by institutions increased in the last three months by 4.83% to 432,161K shares. The put/call ratio of SQ is 1.06, indicating a bearish outlook.
What are Large Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,329K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 15,774K shares, representing an increase of 3.40%. The firm increased its portfolio allocation in SQ by 9.24% over the last quarter.
Sands Capital Management holds 15,756K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 15,878K shares, representing a decrease of 0.77%. The firm increased its portfolio allocation in SQ by 14.16% over the last quarter.
Wellington Management Group Llp holds 13,428K shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 11,884K shares, representing an increase of 11.50%. The firm increased its portfolio allocation in SQ by 21.56% over the last quarter.
Fisher Asset Management holds 11,360K shares representing 1.88% ownership of the company. In it’s prior filing, the firm reported owning 4,568K shares, representing an increase of 59.79%. The firm increased its portfolio allocation in SQ by 156.28% over the last quarter.
Capital World Investors holds 9,382K shares representing 1.56% ownership of the company. In it’s prior filing, the firm reported owning 9,381K shares, representing an increase of 0.01%. The firm increased its portfolio allocation in SQ by 8.52% over the last quarter.
Block Background Information
(This description is provided by the company.)
Square, Inc. builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in person, and to manage their business. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain and the UK.
This article originally appeared on Fintel
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