This morning we watched Block rise 1.5% to a price of $53.88 per share. The large-cap Software company is now trading -35.81% below its average target price of $83.94. Analysts have set target prices ranging from $35.0 to $110.0 per share for Block, and have given the stock an average rating of buy.
Block's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 3.1%. The stock's short ratio is 1.81. The company's insiders own 0.79% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 72.5%. In conclusion, we believe there is mixed market sentiment regarding Block.
Institutions Invested in Block
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 6% | 34,329,857 | $1,849,692,731 |
| 2023-06-30 | Blackrock Inc. | 5% | 29,725,443 | $1,601,606,900 |
| 2023-06-30 | FMR, LLC | 4% | 24,633,943 | $1,327,276,875 |
| 2023-06-30 | Morgan Stanley | 3% | 18,249,418 | $983,278,661 |
| 2023-06-30 | Wellington Management Group, LLP | 3% | 16,593,212 | $894,042,280 |
| 2023-06-30 | Sands Capital Management, LLC | 3% | 14,473,603 | $779,837,745 |
| 2023-06-30 | Capital World Investors | 2% | 11,368,613 | $612,540,880 |
| 2023-06-30 | State Street Corporation | 2% | 10,875,566 | $585,975,507 |
| 2023-06-30 | ARK Investment Management, LLC | 2% | 10,726,935 | $577,967,269 |
| 2023-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 2% | 10,377,309 | $559,129,420 |
