Fintel reports that Morgan Stanley has filed a 13G/A form with the SEC disclosing ownership of 19.56MM shares of Block Inc (SQ). This represents 3.6% of the company.
In their previous filing dated February 9, 2022 they reported 24.81MM shares and 6.20% of the company, a decrease in shares of 21.14% and a decrease in total ownership of 2.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 9.82% Upside
As of February 7, 2023, the average one-year price target for Block is $91.35. The forecasts range from a low of $51.51 to a high of $157.50. The average price target represents an increase of 9.82% from its latest reported closing price of $83.18.
The projected annual revenue for Block is $20,826MM, an increase of 22.80%. The projected annual EPS is $1.72.
Fund Sentiment
There are 1578 funds or institutions reporting positions in Block. This is a decrease of 100 owner(s) or 5.96%.
Average portfolio weight of all funds dedicated to US:SQ is 0.4574%, an increase of 4.4518%. Total shares owned by institutions decreased in the last three months by 1.61% to 412,840K shares.
What are large shareholders doing?
Sands Capital Management holds 15,877,952 shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 16,450,950 shares, representing a decrease of 3.61%. The firm decreased its portfolio allocation in SQ by 6.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,774,210 shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 15,280,417 shares, representing an increase of 3.13%. The firm decreased its portfolio allocation in SQ by 3.72% over the last quarter.
Wellington Management Group Llp holds 11,883,699 shares representing 1.98% ownership of the company. In it's prior filing, the firm reported owning 11,333,040 shares, representing an increase of 4.63%. The firm decreased its portfolio allocation in SQ by 0.77% over the last quarter.
Fisher Asset Management holds 11,359,972 shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 4,568,130 shares, representing an increase of 59.79%. The firm increased its portfolio allocation in SQ by 156.28% over the last quarter.
Capital World Investors holds 9,381,012 shares representing 1.56% ownership of the company. In it's prior filing, the firm reported owning 5,453,454 shares, representing an increase of 41.87%. The firm increased its portfolio allocation in SQ by 62.66% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
