Seaport Global Lowers Block Outlook to Neutral Amid Fund Shifts
Fintel reports that on May 2, 2025, Seaport Global downgraded its outlook for Block (BRSE:SQ3) from Buy to Neutral.
Fund Sentiment Overview
Currently, 1,813 funds or institutions report positions in Block, marking an increase of 126 owners, or 7.47%, over the last quarter. The average portfolio weight of all funds dedicated to SQ3 stands at 0.34%, reflecting a substantial rise of 105.68%. Over the past three months, total shares owned by institutions increased by 4.52%, reaching 457,389K shares.
Actions from Other Shareholders
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) currently holds 17,548K shares, representing 3.14% ownership of the company. This latest filing shows a slight decrease from 17,637K shares, equating to a decline of 0.51%. However, the firm increased its portfolio allocation in SQ3 by 24.14% over the last quarter.
JPMorgan Chase holds 17,237K shares, accounting for 3.08% ownership. In its previous filing, the firm reported ownership of 15,888K shares, indicating an increase of 7.82%. Their portfolio allocation in SQ3 rose by 34.59% during the last quarter.
The Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) owns 12,028K shares, representing 2.15% of the company. An increase of 2.25% was noted from their previous holdings of 11,757K shares. The fund increased its portfolio allocation in SQ3 by 28.54% last quarter.
Baillie Gifford controls 11,168K shares, which is 2.00% ownership. Their earlier filings indicated ownership of 10,233K shares, showing an increase of 8.37%. They raised their portfolio allocation in SQ3 by a substantial 41.87% over the last quarter.
Sands Capital Management reported holding 10,340K shares, equating to 1.85% ownership, down from 11,228K shares previously, demonstrating a decrease of 8.59%. Despite this drop, the firm still increased its portfolio allocation in SQ3 by 13.67% for the last quarter.
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