Ken Fisher’s 5 New Purchases/Additions

1. Block, Inc. (NYSE:SQ)

Percentage Increase in Stake in Q4: 149%

Block, Inc. (NYSE:SQ) was established in 2009 and offers businesses payment acquiring services and associated services. Additionally, the company unveiled the person-to-person payment network Cash App. Block, Inc. (NYSE:SQ) has businesses in the United Kingdom, Canada, Japan, and Australia; around 5% of its income comes from sources outside the United States. 

Block, Inc. (NYSE:SQ) shares have returned 10.11% to investors over the course of past month. Ahead of the company’s Q4 earnings, on January 23, Barclays analyst Ramsey El-Assal maintained an ‘Overweight’ rating on the shares and increased his price objective for Block, Inc. (NYSE:SQ) from $100 to $103. Block’s employment appears to have decreased significantly in Q4 according to the analyst’s research report to investors, perhaps indicating the company’s more aggressive approach to profitability.

Fisher Asset Management also strengthened its position in Block, Inc. (NYSE:SQ) by buying 6.79 million additional shares. This makes its stake in Block, Inc. (NYSE:SQ) total 11.36 million shares worth $713.86 million. ARK Investment Management is the company’s largest shareholder, with shares worth $565.77 billion.

Baron Funds, an asset management firm, mentioned Block, Inc. (NYSE:SQ) in its Q2 2022 investor letter. Here is what the fund said:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to mixed quarterly results with more modest growth in the Seller business offsetting strength in Cash App. While the integration of recently acquired Afterpay is progressing well and credit metrics remain healthy, the buy-now-pay-later business slowed due to greater competitive intensity. We continue to own the stock due to Block’s long runway for growth, sustainable competitive advantages, and unique corporate culture.”

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