Wells Fargo Lowers Rating on Block (BRSE:SQ3)

Published On: May 4, 2025 12:58 am

Wells Fargo Downgrades Block as Institutional Ownership Adjusts

Fintel reports that on May 2, 2025, Wells Fargo downgraded its outlook for Block (BRSE:SQ3) from Overweight to Equal-Weight.

Institutional Fund Sentiment Towards Block

Currently, there are 1,813 funds and institutions reporting their positions in Block, representing an increase of 126 owners or 7.47% in the last quarter. The average portfolio weight of all funds dedicated to SQ3 stands at 0.34%, showing a significant increase of 105.68%. Over the past three months, total shares owned by institutions rose by 4.52% to reach 457,389K shares.

Changes in Notable Shareholders’ Holdings

CH:SQ3 / Block, Inc. Shares Held by Institutions

Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 17,548K shares, which represents a 3.14% ownership stake in the company. In its previous filing, the fund reported owning 17,637K shares, indicating a decrease of 0.51%. However, it increased its portfolio allocation in SQ3 by 24.14% over the last quarter.

JPMorgan Chase holds 17,237K shares or 3.08% ownership. Their prior filing indicated ownership of 15,888K shares, a change that represents a 7.82% increase. JPMorgan Chase has also boosted its portfolio allocation in SQ3 by 34.59% in the last quarter.

Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) possesses 12,028K shares, equating to 2.15% ownership. Their previous filing reported 11,757K shares, marking a 2.25% increase. The fund increased its portfolio allocation in SQ3 by 28.54% in the last quarter.

Baillie Gifford holds 11,168K shares, representing a 2.00% ownership stake. Their last filing disclosed 10,233K shares, showing an 8.37% increase. This firm raised its portfolio allocation in SQ3 by 41.87% over the past quarter.

Sands Capital Management owns 10,340K shares, amounting to a 1.85% ownership. Their prior filing listed 11,228K shares, representing a decrease of 8.59%. Nonetheless, Sands Capital increased its portfolio allocation in SQ3 by 13.67% in the last quarter.

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