Wells Fargo Downgrades Block Outlook Amid Growing Fund Interest

Fintel reports that on May 2, 2025, Wells Fargo downgraded their outlook for Block (LSE:0L95) from Overweight to Equal-Weight.

Fund Sentiment Overview

Currently, there are 1,813 funds or institutions with positions in Block, marking an increase of 126 owners, or 7.47%, from the last quarter. The average portfolio weight across all funds allocated to 0L95 stands at 0.34%, reflecting a 105.68% rise. Over the past three months, total shares owned by institutions increased by 4.47%, reaching 457,153K shares.

Movements Among Other Shareholders

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 17,548K shares, accounting for 3.14% ownership of Block. This represents a slight decrease of 0.51% from their prior holding of 17,637K shares. Nonetheless, the firm increased its portfolio allocation in 0L95 by 24.14% over the last quarter.

JPMorgan Chase reports ownership of 17,237K shares, equivalent to 3.08% of the company. This reflects an increase of 7.82% from the previously reported 15,888K shares. Moreover, JPMorgan boosted its portfolio allocation in 0L95 by 34.59% during the last quarter.

The Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) holds 12,028K shares, which represents 2.15% ownership. This is an increase of 2.25% from their previous holding of 11,757K shares, as the firm expanded its allocation in 0L95 by 28.54% over the last quarter.

Baillie Gifford possesses 11,168K shares for 2.00% ownership, up from 10,233K shares, an 8.37% increase. The firm enhanced its portfolio allocation in 0L95 by 41.87% over the last quarter.

Sands Capital Management holds 10,340K shares, representing 1.85% ownership of Block. This is a decrease from 11,228K shares, indicating an 8.59% drop. Nevertheless, the firm increased its portfolio allocation in 0L95 by 13.67% during the last quarter.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.