On May 22, 2023 at 15:31:19 ET an unusually large $7,924.00K block of Put contracts in Block Inc – (SQ) was sold, with a strike price of $160.00 / share, expiring in 242 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.42 sigmas above the mean, placing it in the 92.94th 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 1606 funds or institutions reporting positions in Block Inc -. This is an increase of 24 owner(s) or 1.52% in the last quarter. Average portfolio weight of all funds dedicated to SQ is 0.51%, an increase of 6.84%. Total shares owned by institutions increased in the last three months by 1.09% to 437,774K shares. The put/call ratio of SQ is 0.65, indicating a bullish outlook.

Analyst Price Forecast Suggests 52.64% Upside

As of May 11, 2023, the average one-year price target for Block Inc – is 89.52. The forecasts range from a low of 60.60 to a high of $115.50. The average price target represents an increase of 52.64% from its latest reported closing price of 58.65.

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 14,949K shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 15,756K shares, representing a decrease of 5.40%. The firm decreased its portfolio allocation in SQ by 9.61% over the last quarter.

Wellington Management Group Llp holds 14,031K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 13,428K shares, representing an increase of 4.30%. The firm decreased its portfolio allocation in SQ by 84.08% 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.

Capital World Investors holds 11,313K shares representing 1.87% ownership of the company. In it’s prior filing, the firm reported owning 9,382K shares, representing an increase of 17.07%. The firm increased its portfolio allocation in SQ by 27.73% 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.

Key filings for this company:

• Form 10-K

This article originally appeared on Fintel

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