On May 10, 2023 at 13:27:05 ET an unusually large $7,593.75K block of Put contracts in Block Inc – (SQ) was bought, with a strike price of $125.00 / share, expiring in 254 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.38 sigmas above the mean, placing it in the 92.28th percentile of all recent large trades made in SQ 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 1610 funds or institutions reporting positions in Block Inc -. This is an increase of 39 owner(s) or 2.48% in the last quarter. Average portfolio weight of all funds dedicated to SQ is 0.56%, an increase of 21.93%. Total shares owned by institutions increased in the last three months by 5.95% to 435,258K shares. The put/call ratio of SQ is 0.74, indicating a bullish outlook.
Analyst Price Forecast Suggests 60.49% Upside
As of April 24, 2023, the average one-year price target for Block Inc – is 95.20. The forecasts range from a low of 70.70 to a high of $157.50. The average price target represents an increase of 60.49% from its latest reported closing price of 59.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Block Inc – is 20,826MM, an increase of 12.20%. The projected annual non-GAAP EPS is 1.72.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,329K shares representing 2.70% 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 2.60% 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 2.22% 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 11,341K shares representing 1.87% ownership of the company. In it’s prior filing, the firm reported owning 11,360K shares, representing a decrease of 0.16%. The firm decreased its portfolio allocation in SQ by 2.30% over the last quarter.
ARK Investment Management holds 10,471K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 9,003K shares, representing an increase of 14.02%. The firm increased its portfolio allocation in SQ by 0.76% 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.
See all Block Inc – regulatory filings.
This article originally appeared on Fintel
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