On April 27, 2023 at 15:37:21 ET an unusually large $6,435.00K block of Put contracts in Block Inc – (SQ) was bought, 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 1.38 sigmas above the mean, placing it in the 94.88th 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?
DAFGX – Dunham Focused Large Cap Growth Fund holds 41K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 42K shares, representing a decrease of 1.97%. The firm increased its portfolio allocation in SQ by 27.45% over the last quarter.
JAMFX – Jacob Internet Fund Investor Class holds 35K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 38K shares, representing a decrease of 9.07%. The firm increased its portfolio allocation in SQ by 5.09% over the last quarter.
Benjamin Edwards 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 36.00%. The firm increased its portfolio allocation in SQ by 57.49% over the last quarter.
SQN Investors holds 296K shares representing 0.05% ownership of the company. In it’s prior filing, the firm reported owning 368K shares, representing a decrease of 24.39%. The firm increased its portfolio allocation in SQ by 39.42% over the last quarter.
Panagora Asset Management holds 10K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing an increase of 39.36%. The firm increased its portfolio allocation in SQ by 78.10% 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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