On April 27, 2023 at 15:55:44 ET an unusually large $13,585.00K block of Put contracts in Block Inc – (SQ) was bought, with a strike price of $110.00 / share, expiring in 267 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.37 sigmas above the mean, placing it in the 99.99th 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?

FCGSX – Fidelity Series Growth Company Fund holds 54K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 50K shares, representing an increase of 7.45%. The firm increased its portfolio allocation in SQ by 16.08% over the last quarter.

Boston Private Wealth holds 9K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 10K shares, representing a decrease of 12.89%. The firm decreased its portfolio allocation in SQ by 99.91% over the last quarter.

Macquarie Group holds 111K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 124K shares, representing a decrease of 11.77%. The firm decreased its portfolio allocation in SQ by 64.53% over the last quarter.

Point72 Asset Management holds 587K shares representing 0.10% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

FCFMX – Fidelity Series Total Market Index Fund holds 691K shares representing 0.11% ownership of the company. In it’s prior filing, the firm reported owning 622K shares, representing an increase of 9.97%. The firm increased its portfolio allocation in SQ by 17.83% 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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