On April 27, 2023 at 15:55:44 ET an unusually large $10,296.00K block of Put contracts in Block Inc – (SQ) was sold, with a strike price of $125.00 / share, expiring in 267 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.46 sigmas above the mean, placing it in the 99.76th 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 1608 funds or institutions reporting positions in Block Inc -. This is an increase of 22 owner(s) or 1.39% in the last quarter. Average portfolio weight of all funds dedicated to SQ is 0.54%, an increase of 22.09%. Total shares owned by institutions increased in the last three months by 6.75% to 434,582K shares. The put/call ratio of SQ is 0.78, indicating a bullish outlook.
Analyst Price Forecast Suggests 57.18% 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 57.18% from its latest reported closing price of $60.57.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Block Inc – is $20,826MM, an increase of 18.79%. The projected annual non-GAAP EPS is $1.72.
What are Other Shareholders Doing?
MMAAX – MassMutual Select Growth Opportunities Fund holds 96K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 93K shares, representing an increase of 3.03%. The firm increased its portfolio allocation in SQ by 17.03% over the last quarter.
EQ ADVISORS TRUST – EQ holds 15K shares representing 0.00% ownership of the company. No change in the last quarter.
VWUSX – Vanguard U.S. Growth Fund Investor Shares holds 1,680K shares representing 0.28% ownership of the company. In it’s prior filing, the firm reported owning 1,369K shares, representing an increase of 18.53%. The firm increased its portfolio allocation in SQ by 25.03% over the last quarter.
INNO – Harbor Disruptive Innovation ETF holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 13.83%. The firm increased its portfolio allocation in SQ by 27.86% over the last quarter.
TRANSAMERICA SERIES TRUST – Transamerica Morgan Stanley Capital Growth VP Initial holds 208K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 217K shares, representing a decrease of 4.29%. The firm increased its portfolio allocation in SQ by 38.33% 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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